Williams seeking a partner to invest in pipelines for $5 billion
Monday, March 2, 2020
According to an unnamed source, Williams Companies Inc is seeking a partner to invest in a network of its pipelines in the western U.S. The deal could raise close to $5 billion for the company, according to Reuters.
The pipeline partnership would be larger than the joint venture that Williams agreed to last year with the Canada Pension Plan Investment Board in the Marcellus and Utica shale basins. For a 35% stake in the assets, the Canada Pension Plan Investment Board paid $1.33 billion.
The latest collection of pipelines that Williams is offering a stake in transfers hydrocarbons away from oil and gas drilling sites, usually to larger pipelines which reach storage facilities or customers. As with the CPPIB deal, Williams is seeking to remain the operator of the pipelines in its current deal.
Learn more: Reuters > Exclusive: Williams seeks to raise $5 billion by selling stake in pipelines – sources
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.