Williams Partners Completes Acquisition of Access Midstream Partners
Williams, Williams Partners L.P. and Access Midstream Partners L.P. announced the closing of the merger between Williams Partners and Access Midstream Partners Feb. 2.
As part of the completion of the merger, Access Midstream Partners changed its name to Williams Partners L.P. and its units will trade on the New York Stock Exchange under the symbol WPZ beginning on Feb. 3.
“As intended with this merger, we’ve created an industry-leading, large-scale MLP with best-in-class assets that connect natural gas and natural gas products with growing markets,” said Alan Armstrong, CEO of Williams Partners’ general partner. “The new Williams Partners generates additional strength in our business, more opportunities for our customers and increased value for our investors. We’re pleased to have reached this milestone as we strive to meet North America’s critical need for energy infrastructure.”
Williams’ acquisition of Access Midstream Partners and the subsequent merger with Williams Partners enhances Williams’ exposure to key production basins in North America. The merger combines the depth of Access Midstream’s expertise in the gathering and processing function with the breadth of Williams’ capabilities across the broader natural gas value chain. Williams Partners now features large-scale positions across three key components of the midstream sector, including:
• Natural Gas Pipelines – Transco, Northwest and Gulfstream represent the nation’s premier interstate pipeline network. Transco is the nation’s largest and fastest-growing pipeline system.
• Gathering and Processing – Large-scale positions in growing natural-gas supply areas in major shale and unconventional producing areas, including the Marcellus, Utica, Piceance, Four Corners, Wyoming, Eagle Ford, Haynesville, Barnett, Mid-continent and Niobrara. Additionally, the business includes oil and natural gas gathering services in the deepwater Gulf of Mexico.
• Natural Gas Liquids and Petrochemical Services – Unique downstream presence on the Gulf Coast and in western Canada provides differentiated long-term growth.
Williams Partners is based in Tulsa, Oklahoma with major offices in Oklahoma City, Houston, Pittsburgh, Salt Lake City and Calgary. Williams owns the general partner of and controlling interest in Williams Partners. Alan Armstrong and Donald Chappel serve the merged MLP as its general partner’s chief executive officer and chief financial officer, respectively.
Williams and Williams Partners intend to provide updated financial guidance on or before Feb. 18. Williams and Williams Partners plan to jointly host a conference call and live webcast at 9:30 a.m. EST on Feb. 19 following the announcement of their fourth-quarter and year-end 2014 financial results after the market closes on Feb. 18.
A limited number of phone lines will be available at 800-768-6570. International callers should dial 785-830-1942. A link to the webcast, as well as replays of the webcast in both streaming and downloadable podcast formats, will be available for two weeks following the event at williams.com
Tags: Access Partners, mergers and acquisitions, Williams, Williams Partners
