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.”
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Anadarko Backing Eagle Ford Pipeline Extension
Net Midstream’s Eagle Ford Midstream LP plans to construct a 105-mile, 24- and 30-inch diameter extension of its existing pipeline, supported by a long-term gas transportation agreement with Anadarko Petroleum Corp.
Low Gas Prices Sideline Rigs
Chesapeake Energy Corp. and SandRidge Energy Inc. — which was started by some of Chesapeake’s founders — announced last week that they will lay down some natural gas rigs because of continuing low prices.
Low Gas Prices Sideline Rigs
Chesapeake Energy Corp. and SandRidge Energy Inc. — which was started by some of Chesapeake’s founders — have announced that they will lay down some natural gas rigs because of continuing low prices.
Low Gas Prices Sideline Rigs
Chesapeake Energy Corp. and SandRidge Energy Inc. — which was started by some of Chesapeake’s founders — have announced that they will lay down some natural gas rigs because of continuing low prices.
Bill Barrett Launches Plans to Go Public
Bill Barrett Corp., an independent oil and natural gas exploration company set up by the founders of one of the most successful Rocky Mountain explorers, last week set a planned initial public offering (IPO) at 12 million shares for an estimated price of $20-23/share.
Bill Barrett Launches Plans to Go Public
Bill Barrett Corp., an independent oil and natural gas exploration company set up by the founders of one of the most successful Rocky Mountain explorers, on Wednesday set a planned initial public offering (IPO) at 12 million shares for an estimated price of $20-23/share.
SEMCO Customer Choice Founders on Frozen Rates
Unable to reach an agreement on frozen rates for natural gas with the Michigan Public Service Commission staff, SEMCO Energy Gas Co. on Friday withdrew its request to extend its Customer Choice Program, which included a frozen gas cost. Under the SEMCO proposal, a frozen gas cost would have been in effect from April 1, 2002, through March 31, 2005. The utility will instead reinstate its Gas Cost Recovery (GCR) pricing system when the current customer choice program expires on March 31, 2002.
July Founders Amid Storage ‘Glut’
After posting losses in the Tuesday evening Access session, theJuly Nymex contract gapped lower on the open yesterday, thencontinued to falter closing at $2.106, down a nickel. The contractwas held within a tight 4 cent range between $2.095-135 whichalmost identically mirrored Henry Hub cash prices on the day.Estimated volume was 41,493