Deals
Williams to Buy Natural Gas Pipeline Assets for $950 Million
- Pipeline operator eyeing expansion in Haynesville basin
- Deal includes commitment to Louisiana Energy Gateway project
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Pipeline operator Williams Cos. agreed to buy natural gas gathering and processing assets from Trace Midstream, a portfolio company of Quantum Energy Partners, for $950 million to expand its footprint in Louisiana’s Haynesville Shale.
The deal boosts Williams’ gathering capacity in the Haynesville to more than 4 billion cubic feet a day from 1.8 billion, the company said Monday in a statement. Williams, which handles about one-third of U.S. natural gas used for power generation, heating and industrial use, said the acquisition is expected to result in an investment at about six times 2023 earnings before interest, taxes, depreciation and amortization.