Williams Partners lowers financial guidance, citing Geismar delays

|About: Williams Partners L.P. (WPZ)|By:, SA News Editor

Williams Partners (WPZ) lowers its financial guidance, at the same time its general partner Williams Cos. (WMB) announces a proposal for WPZ to merge with and into Access Midstream Partners.

The guidance change for 2014 is primarily the result of delays in the anticipated reopening of the Geismar, La., olefins plant and expectations for increased capital spending to $715M from earlier guidance of $650M million; guidance for 2015 and 2016 are unchanged.