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 U.S. 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. Read more from Energy Now.
