John H. Williams, 94, a founding leader of natural gas midstream and pipeline giant Williams, died Wednesday at his home in Linville, NC. He had worked for Williams Brothers founders Dave and Miller beginning in 1938, and 11 years later he, his brother Charlie and cousin David bought the company. John Williams served as president and CEO until 1971 and as chairman and CEO from 1971 to 1979. One of his signature achievements was the 1966 purchase of Great Lakes Pipe Line, which at the time was substantially larger than his company. In his tenure as CEO, Williams’ market value increased from $25,000 in 1949 to $406.5 million in 1978. From 1964 to 1974, the average combined return to investors ranked No. 1 among Fortune 500 companies. John Williams is survived by his wife, Joanne, and three sons. “This is a huge loss to many of us personally and certainly for our great company,” said Williams CEO Alan Armstrong. “He has been an inspiration to all who have been lucky enough to know him.”
Brothers
Articles from Brothers
NatGas Futures Fall Nearly a Dime as Crude Rallies
Ending a rocky week of commodity and equity market ups and downs that was dominated by news of the bankruptcy of Lehman Brothers Holdings Inc. and the sales of Merrill Lynch and Constellation Energy, October natural gas futures on Friday ended up quietly closing at $7.531, down 9 cents on the day but 16.5 cents higher than the previous week’s close.
PPL Corp. Selling Gas Distribution Business
PPL Corp. will conduct a sales process for its natural gas distribution business, PPL Gas Utilities Corp., and propane business, Penn Fuel Propane, the company said Monday. These businesses represented about 1% of PPL’s overall earnings from ongoing operations in 2006.
Too Much Storage, Too Few Storms Bedevil Prices
With the expectation that the injection season will end with gas storage at 200 Bcf above the five-year average, Lehman Brothers cut its price forecast for the rest of the year to $7/MMBtu from $7.75/MMBtu “to reflect the turmoil that the oversupply may cause in the market in the next several months.”
Too Much Storage, Too Few Storms Bedevil Prices
With the expectation that the injection season will end with gas storage at 200 Bcf above the five-year average, Lehman Brothers cut its price forecast for the rest of the year to $7/MMBtu from $7.75/MMBtu “to reflect the turmoil that the oversupply may cause in the market in the next several months.”
Lehman Buying Rest of Eagle Energy, Bolstering Physical Trading
Lehman Brothers will acquire the remaining two-thirds of Houston-based energy marketing and services company Eagle Energy Partners that it does not already own, the firm said last week. The transaction will expand Lehman’s energy trading business, particularly on the physical side, where it has had a relatively small presence.
Lehman Buying Remainder of Eagle Energy Partners
Lehman Brothers will acquire the remaining two-thirds of Houston-based energy marketing and services company Eagle Energy Partners that it does not already own, the firm said Wednesday. The transaction will expand Lehman’s energy trading business, particularly on the physical side, where it has had a relatively small presence.
NGI The Weekly Gas Market Report
U.S. Leads Lehman Bros. Producer Spending Growth Projections
Producers may grouse about rising costs in the field, but they’re going to keep on paying, according to Lehman Brothers latest exploration and production spending survey. Worldwide E&P capital spending is forecast to grow 21.3% this year, a healthy boost from the 14.7% that Lehman projected in its December 2005 survey. The 308 companies in the survey are projected to spend $261 billion.
Lehman Raises Producer Spending Forecast From December
Producers may grouse about rising costs in the field, but they’re going to keep on paying, according to Lehman Brothers latest exploration and production spending survey. Worldwide E&P capital spending is forecast to grow 21.3% this year, a healthy boost from the 14.7% that Lehman projected in its December 2005 survey. The 308 companies in the survey are projected to spend $261 billion.
NGI The Weekly Gas Market Report
Lehman Brothers Invests in Physical Gas, Power Marketer Eagle Energy
The banking/brokerage link-up with energy trading is continuing. Lehman Brothers Merchant Banking has taken a one-third interest in Houston-based energy marketer Eagle Energy Partners. Lehman, producer Chesapeake Energy, and Eagle management each will own one-third of the company.
