Deals
Williams Bets $2.4 Billion on Pipe Venture Chesapeake Quit
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Williams Cos., the third-largest U.S. pipeline company, is betting as much as $2.4 billion it can profit from a shale-pipeline partnership that Chesapeake Energy Corp. exited earlier this year.
Williams agreed to acquire a 25 percent stake in Access Midstream Partners LP and 50 percent of its general partner, the Tulsa, Oklahoma-based company said in a statement yesterday. Chesapeake shed its stake in the Access pipeline venture, formerly known as Chesapeake Midstream, in June as the natural gas producer auctioned properties from Appalachia to the Rocky Mountains to plug a cash flow shortfall.