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Williams (WMB) Inks Export Deal With Beacon for Shenandoah

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The Williams Companies, Inc. (WMB - Free Report) recently inked an export deal with Beacon Offshore Energy Development and its co-owner ShenHai, a Navitas Petroleum LP subsidiary. Per the terms of the deal, Williams will offer offshore natural gas collecting and transportation services as well as onshore natural gas processing services to the Shenandoah development in the central Gulf of Mexico.

Further, according to the agreement, a five-mile offshore lateral pipeline connecting the Shenandoah platform to Discovery natural gas gathering pipeline system's existing Keathley Canyon Connector pipeline and new onshore processing facilities to manage the estimated rich Shenandoah output are part of the infrastructure to be constructed for the project.

Shenandoah oil and gas field is located in the Walker Ridge region of the Gulf of Mexico, 160 miles off the coast of Louisiana. William's investment in Shenandoah, which is expected to be operational by late 2024, is a strategic extension of its Gulf of Mexico infrastructure that will further improve its service portfolio. The firm is happy to offer Beacon with its complete range of midstream capabilities that will optimally utilize these significant deepwater resources.

Williams boasts a diverse portfolio of properties in the Gulf of Mexico. It owns and operates 3,500 miles of natural gas, and oil collecting and transmission pipeline as well as an 1.8 billion cubic feet per day of cryogenic processing capacity and 60,000 barrels per day of fractionation capacity supplying the Gulf of Mexico.

Company Profile

Founded in 1908, Oklahoma-based Williams is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Possessing a widespread pipeline system, which is extended to more than 33,000 miles, Williams is one of the largest domestic transporters of natural gas by volume.

Zacks Rank & Key Picks

Williams currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the  energy  space are Sprague Resources LP (SRLP - Free Report) , SilverBow Resources Inc. (SBOW - Free Report) and Oasis Petroleum Inc. (OAS - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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