Oct. 27, 2014, 5:40 AM
- Williams Cos. (NYSE:WMB) has sweetened the terms of an agreement to combine two MLPs controls, Williams Partners (NYSE:WPZ) and Access Midstream Partners (NYSE:ACMP), in a move that will create a pipeline operator with a combined enterprise value of $50B.
- Investors who own WPZ units will receive ~0.87 of a unit of ACMP for each WPZ unit they own, up from the initial offer of 0.85; prior to the tie-up, existing ACMP holders will receive more units of the partnership.
- Williams expects the merger to be completed early next year, with the new entity set to distribute $3.65/unit in 2015.
- "This is another big step toward our goal of becoming the leading natural-gas infrastructure provider in North America," Williams CEO Alan Armstrong says. (PR)
Jun. 16, 2014, 3:19 AM
- Williams Companies (WMB) has agreed to pay nearly $6B to acquire the 50% stake it does not already own in Access Midstream Partners (ACMP), from infrastructure fund manager Global Infrastructure Partners.
- Another potential deal is being looked at - merging Williams Partners (WPZ) with Access Midstream Partners. If successful, it would form a close to $100B master limited partnership, one of the largest MLPs by enterprise value.
- Williams also announced plans to increase its third-quarter dividend by 32%, to 56 cents per share. Dividend growth is estimated to grow 15% annually between 2014 and 2017.
Jun. 24, 2013, 8:16 AM
Crestwood Midstream Partners (CMLP) agrees to buy a 50% stake in Jackalope Gas Gathering Services from privately-held RKI for ~$108M. Jackalope's gathering and processing system is located in Wyoming, giving CMLP access to the emerging Powder River Basin Niobrara Shale play. Access Midstream Partners (ACMP) owns the remaining 50% of Jackalope.| Jun. 24, 2013, 8:16 AM
Dec. 11, 2012, 5:59 PM
Williams Cos. (WMB) agrees to acquire a 50% interest in Access GP and ~25% of limited partner units of Access Midstream Partners (ACMP) for ~$2.4B. The deal, together with ACMP's planned acquisition of Chesapeake's remaining midstream assets, expands WMB's presence in 10 major shale and unconventional producing areas. WMB also announces a 46.5M-share public offering of common stock. WMB -2.8% AH.| Dec. 11, 2012, 5:59 PM | 2 Comments
Dec. 11, 2012, 5:43 PM
Chesapeake Energy (CHK) agrees to sell a substantial majority of its remaining midstream assets to Access Midstream Partners (ACMP) for ~$2.16B; the assets are located primarily in the Marcellus, Utica, Eagle Ford, Haynesville and Niobrara shale plays. CHK also anticipates completing the sale of its remaining midstream assets by the end of Q1 2013 for ~$425M. CHK +0.3% AH.| Dec. 11, 2012, 5:43 PM | 18 Comments
Jun. 8, 2012, 8:19 AM
Jun. 8, 2012, 8:09 AM
Chesapeake Energy (CHK) confirms it plans to sell its assets in Chesapeake Midstream Partners (CHKM) to Global Infrastructure Partners in three separate transactions for expected cash proceeds of more than $4B. CHK says the midstream divestitures will enable it to reduce previously budgeted capex by ~$3B over the next three years. CHK +2.5% premarket.| Jun. 8, 2012, 8:09 AM
Jun. 6, 2012, 5:49 AMChesapeake Energy (CHK) is in advanced discussions to sell its 45.2% limited partner interest in Chesapeake Midstream (CHKM) and other pipeline assets to Global Infrastructure for over $4B. The deal would be part of Chesapeake's strategy to sell assets as it faces a cash-flow shortfall that Alembic analyst James Sullivan believes could hit $22B by the end of 2013. | Jun. 6, 2012, 5:49 AM | 2 Comments
Dec. 28, 2011, 4:28 PM
Chesapeake Midstream Partners (CHKM) agrees to acquire Appalachia Midstream Services, the wholly owned subsidiary of Chesapeake Midstream Development that holds its Marcellus Shale midstream assets, for $865M.| Dec. 28, 2011, 4:28 PM