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Williams Completes Sale of Several Gulf Coast Pipeline Systems
HOUSTON, December 6, 2018 (PCW) -- Williams today announced the sale of certain pipeline systems located in the Gulf Coast area to Easton Energy LLC for $177 million in cash. The sale closed on Nov 30, 2018.
The 31-mile Texas Belle Pipeline, which transports natural gas liquids from Mont Belvieu to customers along the Houston Ship Channel, is included in this transaction as are the Purity Pipeline System, certain assets in the Live Oak Pipeline System, and additional idle pipelines located along the Gulf Coast.
Proceeds from the transaction will contribute to funding Williams’ growth capital and investment opportunities. Williams’ previous 2019 guidance is not impacted by this transaction.
Post this transaction, Williams’ Atlantic-Gulf business segment still includes 506 miles of purity product pipelines. -- Donna Todd