First deal:
- with Western Gas Partners LP
- Williams will exchange its 50% stake in a gas-gathering system in Texas for a bigger position in two gathering networks in Pennsylvania
- plus cash payment of $155 million
- this follows the failed $33 billion takeover of ETP LP last year
- gas supplies flowing out of the Marcellus have outpaced pipeline capacity
- Williams has heavily invested in projects to bring more of that natural gas to market
- Williams core: moving natural gas from the Marcellus to end-users in the mid-Atlantic, southeast, and the gulf coast
- analysts see it as somewhat of a wash: nice gain in the short term but Williams giving up growth in the Permian
- with Anadarko Petroleum
- Williams will sell its 33% stage in the Ranch Westex gas-processing plant in the Delaware Basin
- $45 million in cash
***********************************
Back To The Bakken
Active rigs:
2/11/2017 | 02/11/2016 | 02/11/2015 | 02/11/2014 | 02/11/2013 | |
---|---|---|---|---|---|
Active Rigs | 36 | 41 | 137 | 195 | 183 |
A reminder: the fate of the DAPL is now in the hands of DC federal judge.
US rig counts: monthly rig additions are the most since 2012; NDIC stats suggest the number of active rigs in North Dakota dropped 10% this past week.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.