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Williams (WMB) Declares New Deepwater Deal at Salamanca
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The Tulsa, OK-based pipeline operator, The Williams Companies, Inc. (WMB - Free Report) , recently stated that it obtained another tieback to Discovery’s Keathley Canyon Connector (KCC) pipeline, making its deepwater natural gas infrastructure services available to the operator LLOG Exploration Offshore, for its new Salamanca development in the Keathley Canyon area of the Gulf of Mexico.
The development at Salamanca, which will be situated 200 miles off the coast of Louisiana, will handle the output from the Leon and Castile fields. The initial production is anticipated to begin in the second quarter of 2025. Salamanca is set to be the third deepwater production tieback to the KCC pipeline, which began operations in 2015 as a primary natural gas corridor through the Central Gulf of Mexico, and the fifth overall tieback to the Discovery system in the last couple of years.
The 30-mile tieback to KCC is likely to be built, owned and operated by LLOG — an investment vehicle managed by ArcLight Capital Partners LLC — and other co-owners. KCC is part of the Williams-operated Discovery system, together owned by Williams, which has a 60% stake, and DCP Midstream, LP, which holds the remaining 40%. KCC transports rich natural gas offshore to onshore gas processing at Discovery’s unit in Larose, LA and natural gas liquids fractionation at Discovery’s Paradis facility in Louisiana.
Williams’ president and chief executive officer, Alan Armstrong, said “Williams provides critical infrastructure to gather and transport the Gulf of Mexico’s low carbon intensity natural gas for U.S. consumption.” He further mentioned that Williams’ scale and connectivity in the region offer a safe, smooth and effective route to market, enabling its customers to maximize the value of these important deepwater resources.
Founded in 1908, The Williams Companies, Inc. is a premier energy infrastructure provider in North America. WMB’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Boasting of a widespread pipeline system of more than 33,000 miles of pipelines, Williams is one of the largest domestic transporters of natural gas by volume.
Imperial Oil is valued at around $32.8 billion. The Zacks Consensus Estimate for Imperial Oil’s 2022 earnings has been revised about 40.4% upward over the past 60 days from $4.85 per share to $6.81.
The Zacks Consensus Estimate for IMO’s 2022 earnings is projected at $5.92 per share, up approximately 113% from the projected year-ago earnings of $2.78. Imperial Oil’s shares have gone up 60.4% in a year.
The Zacks Consensus Estimate for Devon Energy’s 2022 earnings is projected at $8.62 per share, up about 144.2% from the projected year-ago earnings of $3.53. Devon Energy’s stock has rallied 156.7% in a year.
Devon Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 13.4%. DVN is valued at around $42.2 billion.
The Zacks Consensus Estimate for Vista’s 2022 earnings is projected at $1.67 per share, up about 209.3% from the projected year-ago earnings of 54 cents.
Vista’s stock has rallied 181.2% in a year. The Zacks Consensus Estimate for VIST’s 2022 earnings has been revised about 7.7% upward over the past 60 days from $1.55 per share to $1.67.
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Williams (WMB) Declares New Deepwater Deal at Salamanca
The Tulsa, OK-based pipeline operator, The Williams Companies, Inc. (WMB - Free Report) , recently stated that it obtained another tieback to Discovery’s Keathley Canyon Connector (KCC) pipeline, making its deepwater natural gas infrastructure services available to the operator LLOG Exploration Offshore, for its new Salamanca development in the Keathley Canyon area of the Gulf of Mexico.
The development at Salamanca, which will be situated 200 miles off the coast of Louisiana, will handle the output from the Leon and Castile fields. The initial production is anticipated to begin in the second quarter of 2025. Salamanca is set to be the third deepwater production tieback to the KCC pipeline, which began operations in 2015 as a primary natural gas corridor through the Central Gulf of Mexico, and the fifth overall tieback to the Discovery system in the last couple of years.
The 30-mile tieback to KCC is likely to be built, owned and operated by LLOG — an investment vehicle managed by ArcLight Capital Partners LLC — and other co-owners. KCC is part of the Williams-operated Discovery system, together owned by Williams, which has a 60% stake, and DCP Midstream, LP, which holds the remaining 40%. KCC transports rich natural gas offshore to onshore gas processing at Discovery’s unit in Larose, LA and natural gas liquids fractionation at Discovery’s Paradis facility in Louisiana.
Williams’ president and chief executive officer, Alan Armstrong, said “Williams provides critical infrastructure to gather and transport the Gulf of Mexico’s low carbon intensity natural gas for U.S. consumption.” He further mentioned that Williams’ scale and connectivity in the region offer a safe, smooth and effective route to market, enabling its customers to maximize the value of these important deepwater resources.
Founded in 1908, The Williams Companies, Inc. is a premier energy infrastructure provider in North America. WMB’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Boasting of a widespread pipeline system of more than 33,000 miles of pipelines, Williams is one of the largest domestic transporters of natural gas by volume.
Williams currently has a Zacks Rank #2 (Buy). Some other top-ranked stocks from the energy space that warrant a look include Imperial Oil (IMO - Free Report) and Devon Energy (DVN - Free Report) and Vista Oil & Gas (VIST - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Imperial Oil is valued at around $32.8 billion. The Zacks Consensus Estimate for Imperial Oil’s 2022 earnings has been revised about 40.4% upward over the past 60 days from $4.85 per share to $6.81.
The Zacks Consensus Estimate for IMO’s 2022 earnings is projected at $5.92 per share, up approximately 113% from the projected year-ago earnings of $2.78. Imperial Oil’s shares have gone up 60.4% in a year.
The Zacks Consensus Estimate for Devon Energy’s 2022 earnings is projected at $8.62 per share, up about 144.2% from the projected year-ago earnings of $3.53. Devon Energy’s stock has rallied 156.7% in a year.
Devon Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 13.4%. DVN is valued at around $42.2 billion.
The Zacks Consensus Estimate for Vista’s 2022 earnings is projected at $1.67 per share, up about 209.3% from the projected year-ago earnings of 54 cents.
Vista’s stock has rallied 181.2% in a year. The Zacks Consensus Estimate for VIST’s 2022 earnings has been revised about 7.7% upward over the past 60 days from $1.55 per share to $1.67.