The deal expands Williams' natural gas infrastructure in the Haynesville to serve Gulf Coast LNG, power and industrial demand.
The Williams Companies (NYSE: WMB) announced it has closed its acquisition of Momentum Midstream in a transaction valued at approximately $5.5 billion. The deal expands the company's integrated natural gas infrastructure in the Haynesville to serve growing Gulf Coast LNG, power and industrial demand.
The transaction includes approximately $3.5 billion of cash and debt consideration and roughly $2 billion of Williams' equity. Momentum's Haynesville platform adds more than 4,000 miles of pipe, over 1 million dedicated acres, 6 Bcf/d of gathering capacity, multiple processing and treating facilities, and three take-or-pay pipelines with 4.05 Bcf/d of transportation capacity.
With the acquisition now complete, Williams has established a premier Haynesville position that strengthens our ability to serve rapidly growing LNG, power and industrial demand along the Gulf Coast. Momentum brings a high-quality customer base, durable take-or-pay contracts and complementary infrastructure that provides a growth platform to advance our natural gas-focused strategy.
BofA Securities acted as lead financial advisor to Williams, and Truist Securities also acted as a financial advisor in connection with the transaction. Davis Polk & Wardwell served as Williams' legal counsel.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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