Williams Cos. reached a deal to buy Momentum Midstream LLC from EnCap Flatrock Midstream through a deal valued up to $5.5 billion, expanding its natural gas network along the US Gulf Coast, reports Energy Now. Williams will pay $3.5 billion in cash and debt consideration and about $2 billion in stock for the company, adding to its position in the Haynesville shale region of East Texas and northern Louisiana.
The acquisition adds 4,000 miles of pipelines with a capacity of 6 billion cubic feet of gas a day, connecting the Haynesville area to LNG facilities, power plants and industrial customers along the Gulf Coast.
The acquisition is one of the largest for Williams and adds to its already dominant position in the prolific Haynesville shale region of East Texas and northern Louisiana. Houston-based Momentum Midstream operates 4,000 miles of pipelines with a capacity of 6 billion cubic feet of gas a day connecting the Haynesville area to LNG facilities, power plants and industrial customers along the Gulf Coast. Read more from Energy Now.
