Williams Pipeline Partners LP has filed with the Securities and Exchange Commission to launch an initial public offering (IPO) in 4Q2007. Formed by Tulsa-based Williams, the initial asset of the new partnership will be a 25% stake in Northwest Pipeline GP, which includes a 3,900 mile bi-directional interstate pipeline system that accesses natural gas supplies in the Rocky Mountains, Canada and the San Juan Basin and serves key markets in the Pacific Northwest. It also includes a working natural gas storage capacity of 12.4 Bcf. Williams will continue to own the remaining 75% interest in Northwest Pipeline and Williams employees will continue to operate it. The IPO expects to offer 13 million common units, representing a 53.6% limited partner interest. Following the IPO, a Williams subsidiary will own the 2% general partner interest, all of the incentive distribution rights and a 44.4% limited partner interest.
4Q2007
Articles from 4Q2007
Industry Briefs
Williams Pipeline Partners LP has filed with the Securities and Exchange Commission to launch an initial public offering (IPO) in 4Q2007. Formed by Tulsa-based Williams, the initial asset of the new partnership will be a 25% stake in Northwest Pipeline GP, which includes a 3,900 mile bi-directional interstate pipeline system that accesses natural gas supplies in the Rocky Mountains, Canada and the San Juan Basin and serves key markets in the Pacific Northwest. It also includes a working natural gas storage capacity of 12.4 Bcf. Williams will continue to own the remaining 75% interest in Northwest Pipeline and Williams employees will continue to operate it. The IPO expects to offer 13 million common units, representing a 53.6% limited partner interest. Following the IPO, a Williams subsidiary will own the 2% general partner interest, all of the incentive distribution rights and a 44.4% limited partner interest.
