The Williams Companies ( WMB Quick Quote WMB - Free Report) , the Tulsa, OK-based pipeline operator, and PennEnergy Resources, LLC, the Pittsburgh-based natural gas producer, jointly declared that the two firms have entered into an agreement to support the marketing and delivery of certified, low-emission next-gen natural gas.
The deal, whose financial terms have not been disclosed, will include an independent, third-party certification process that verifies the best practices that are being followed to minimize emissions and produce natural gas in an environmentally responsible way.
WMB intends to build a marketing portfolio to sell low-carbon next-gen gas to utilities, LNG export facilities and other clean energy users via its sequent business.
The agreement will involve Williams transporting to market PennEnergy’s certified natural gas. The certification is ought to be made through the independent Project Canary TrustWell certification. Earlier this year, PennEnergy’s 378 wells located in the Pittsburgh area reached the uppermost rating, Platinum, from Project Canary.
The senior vice president of Corporate Strategic Development for Williams, Chad Zamarin, stated that the partnership is another exciting step in the company’s multi-faceted strategy to grow the delivery of next-gen gas to markets across the United States as well as abroad. “With our large-scale gathering and processing footprint in the best U.S. production basins, our connectivity to the nation’s biggest natural gas customers, and our industry-leading Sequent marketing platform, we are extremely well positioned to facilitate the efficient gathering, marketing, and transportation of responsibly sourced natural gas,” he ended.
The agreement with PennEnergy builds on Williams’ game plan to gather, market and transport low-carbon natural gas from the well head to the end-user.
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 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 #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include
NexTier Oilfield Solutions ( NEX Quick Quote NEX - Free Report) , Valero ( VLO Quick Quote VLO - Free Report) and Marathon Petroleum ( MPC Quick Quote MPC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.40 per share, up about 425.6% from the year-ago loss of $2.81.
NEX beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 269.5%.
Valero beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 33.5%.
The Zacks Consensus Estimate for VLO’s 2022 earnings stands at $26.94 per share, up about 858.7% from the year-ago earnings of $2.81.
The Zacks Consensus Estimate for Marathon Petroleum’s 2022 earnings stands at $21.09 per share, up approximately 760.8% from the year-ago earnings of $2.45.
MPC beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 56.7%.