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Company Description

Contact Info

One Williams Center

Tulsa, OK 74172

United States

Phone: 918-573-2000

Fax:

treating, and processing; NGL fractionation, storage and transportation; crude oil transportation; and olefins production. These fall within the middle of the process of taking raw natural gas and crude oil from the producing fields to the consumer. The company also owns and operates gas gathering and processing assets and pipelines primarily within the onshore, offshore shelf, and deepwater areas in and around the Gulf Coast states of Texas, Louisiana, Mississippi, and Alabama. Gathering, Processing, and Treating Williams Partners’ gathering systems receive natural gas from producers’ oil and natural gas wells and gather these volumes to gas processing, treating or redelivery facilities. Williams Partners’ treating facilities remove water vapor, carbon dioxide, and other contaminants and collect condensate, but do not extract NGLs. The company’s processing plants extract the NGLs in addition to removing water vapor, carbon dioxide, and other contaminants. NGL products include ethane, primarily used in the petrochemical industry as a feedstock for ethylene production, one of the basic building blocks for plastics; propane, used for heating, fuel and as a petrochemical feedstock in the production of ethylene and propylene, another building block for petrochemical-based products, such as carpets, packing materials, and molded plastic parts; and normal butane, isobutane and natural gasoline, primarily used by the refining industry as blending stocks for motor gasoline or as a petrochemical feedstock. Williams Partners’ gas gathering and processing customers are generally natural gas producers who have proved and/or producing natural gas fields in the areas surrounding its infrastructure. During 2015, Williams Partners’ facilities gathered and processed gas for approximately 230 customers. The company’s San Juan basin, southwest Wyoming, and Piceance systems are capable of delivering residue gas volumes into Northwest Pipeline’s interstate system in addition to third-party interstate systems. The company’s gathering systems in Pennsylvania delivers residue gas volumes into Transco’s pipeline in addition to third-party interstate systems. In addition, the company owns and operates various natural gas treating facilities in New Mexico, Colorado, Texas, and Louisiana, which bring natural gas to specifications allowable by major interstate pipelines. The company also owns and operates fractionation facilities at Moundsville, de-ethanization and condensate facilities at its Oak Grove processing plant, another condensate stabilization facility near its Oak Grove plant, and an ethane transportation pipeline. The company’s two condensate stabilizers are capable of handling approximately 14 thousand barrels per day (Mbbls/d) of field condensate. The company’s Oak Grove de-ethanizer is capable of handling up to approximately 80 Mbbls/d of mixed NGLs to extract up to approximately 40 Mbbls/d of ethane. The remaining mixed NGL stream from the de-ethanizer is then transported and fractionated at the company’s Moundsville facilities, which are capable of handling approximately 42 Mbbls/d of mixed NGLs. Ethane produced at the company’s de-ethanizer is transported to markets through its 50-mile ethane pipeline from Oak Grove to Houston, Pennsylvania. Crude Oil Transportation and Production Handling Assets In addition to the company’s natural gas assets, it owns and operates four deepwater crude oil pipelines and owns production platforms serving the deepwater in the Gulf of Mexico. The company’s offshore floating production platforms provide centralized services to deepwater producers, such as compression, separation, production handling, water removal, and pipeline landings. Canadian Operations The company’s Canadian operations include an oil sands offgas processing plant located near Fort McMurray, Alberta, and an NGL/olefin fractionation facility located at Redwater, Alberta, which is near Edmonton, Alberta, and the Boreal Pipeline, which transports NGLs and associated olefins from its Fort McMurray plant to the company’s Redwater fractionation facility. The company operates the Fort McMurray area processing

 

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Valuation WMB Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2.5x
Price/Book 3.2x
Price/Cash Flow 17.5x
TEV/Sales NM Not Meaningful
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