Williams ups planned capex through 2019 on gas growth opportunities

|About: Williams Companies Inc (WMB)|By:, SA News Editor

Williams Cos. (NYSE:WMB) is flat after-hours following a slight Q2 earnings miss and a 9% Y/Y increase in revenues to a higher than expected $2.09B.

WMB says its YTD transportation revenue from Transco has gained 16% Y/Y, helped by five Transco expansion projects placed in service in 2017 as well as expected mainline service on Atlantic Sunrise this year.

WMB also says it expects to increase FY 2018 capital spending to $3.9B, up from a previous forecast of $3.1B, with 2019 capex now seen at $2.6B, up from previous guidance of $2.4B.

As it nears completion of Atlantic Sunrise, WMB is setting aside more money for other growth opportunities, including the recently announced purchase of assets in the DJ Basin and expansions planned for next year in its West and Northeast segments.

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