Natural gas prices have taken a beating over the past year, but Tulsa-based midstreamer Williams (WMB) is taking the long view, betting that the market will eventually find balance and that gathering and transportation services will continue to play a critical role in the future energy landscape.
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Even as it revealed plans for a new natural gas liquids (NGL) expansion aimed at tapping supply from the Rockies and Denver Julesburg-Niobrara, The Williams Companies Inc. this week touted its focus on transporting low-cost natural gas to premium markets as the driver of “solid and predictable growth” in 2018 and beyond.
The Williams management team sees increased producer activity in wetter natural gas plays like the Eagle Ford Shale of Texas and the Wamsutter field and portions of the Powder River Basin in Wyoming driving volume growth for the remainder of the year and into 2019, and CEO Alan Armstrong is hinting at several projects set for announcement later this month.
Natural gas liquids (NGL) margins dinged the first quarter results of Plains All American Pipeline LP, but increasing producer activity, particularly in the Permian Basin, bodes well for growing transportation volumes later this year, the partnership said.
During the first quarter, Williams Partners LP saw improved net income and adjusted earnings compared with the year-ago quarter. While rough weather caused production freeze-offs in the Rockies, it drove up throughput on Northwest Pipeline. Northeast gathering and processing volumes were up as well.
Spain’s Repsol SA and partner Armstrong Energy have made the largest U.S. onshore conventional hydrocarbons discovery in 30 years, in the Nanushuk play in Alaska’s North Slope, Repsol said Friday.
In the wake of a failed merger with Energy Transfer Equity LP (ETE), an apparent attempt to oust CEO Alan Armstrong at the Williams Companies Inc. has failed and led to the resignation of six of its 13 board members, including the chairman.
Williams CEO Alan Armstrong on Thursday downplayed Williams Partners LP’s gathering contract exposure to troubled producer Chesapeake Energy Corp. and said Chesapeake has been paying its bills.
Williams is preparing for curtailed natural gas volumes from some of its customers in Appalachia because prices are low and there's no expectation on when they may improve, CEO Alan Armstrong said Thursday.
Williams is preparing for curtailed natural gas volumes from some of its customers in Appalachia because prices are low and there’s no expectation on when they may improve, CEO Alan Armstrong said Thursday.