Williams receives past-due payment of $112M from Chesapeake
Wednesday, December 23, 2020
Williams has received a past-due payment of $112 million from Chesapeake Energy Corp., following a court-approved resolution between the companies as part of Chesapeake’s bankruptcy proceedings, according to Natural Gas Intelligence.
The Tulsa-based pipeline giant reached a global resolution last month to continue treating and moving Chesapeake’s natural gas in the Lower 48. It received the $112 million payment for pre-petition and past-due receivables for midstream expenses per its existing contracts with Chesapeake.
Chesapeake filed for Chapter 11 bankruptcy protection in June to get rid of $7 billion of debt. Additionally, it has sold all of its Mid-continent assets in the process.
Learn more: Natural Gas Intelligence > Williams given approval to resolve Chesapeake midstream contracts
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