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Williams Acquires Natural Gas Pipeline And Storage Assets Serving High-Growth Demand In Dallas-Fort Worth Metroplex

Sep 08, 2022almost 3 years ago

Acquiring Company

Williams

Acquired Company

Storage

TulsaOil And GasEnergy

Description

Williams (NYSE: WMB) today announced that it has acquired NorTex Midstream, a fully contracted natural gas pipeline and storage asset located in north Texas, from an affiliate of Tailwater Capital. The $423 million transaction, which closed on August 31, 2022, includes approximately 80 miles of natural gas transmission pipelines and 36 Bcf of natural gas storage in the Dallas-Fort Worth market. The NorTex assets provide critical service to approximately 4 GW of gas fired power generation, enabling Texas energy providers to successfully meet peak demands. In addition to providing critical gas supply to power generation in north Texas, these assets also position Williams to provide storage services for Permian gas directed toward growing Gulf Coast LNG demand.

Company Information

Company

Williams

Location

Tulsa, Oklahoma, United States

About

Williams is committed to meeting the world’s growing demand for reliable, low-cost, low-carbon energy. Through best-in-class transportation, storage, and delivery solutions, we enable the transition to a cleaner energy future. As a leading operator of critical infrastructure, we are dedicated to making clean energy happen and ensuring a sustainable tomorrow.

DealWatch™ Score

66
High M&A Activity

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Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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