Williams Companies Announces Closing of Stock Offering
Tags: Midstream
Williams announced late on Tuesday that it closed on its public offering of 46,500,000 shares of common stock priced at $31 each and that underwriters elected to exercise in full their option to purchase an additional 6,975,000 shares of the company’s common stock. According to Tulsa World, Williams will use the net profit to purchase a 25 percent interest in Oklahoma City-based Access Midstream Partners, L.P and a 50 percent interest in Access Midstream Partners GP. Global Infrastructure Partners LP is the other primary stakeholder in the Access deal. Access owns and operates pipeline and processing assets in shale formations such as the Marcellus, Utica, Eagle Ford, Haynesville, Mississippi Lime and Granite Wash.