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Stock Market & Financial Investment News

News Breaks
March 3, 2014
08:32 EDTWPZ, WMBWilliams Partners completes acquisition of Williams' Canadian assets
Williams Partners L.P. (WPZ) announced that it has completed the transaction to acquire Williamsí (WMB) currently in-service Alberta, Canada operations for $1.2B. The partnership announced the agreement on Feb. 26. The assets include an oil sands offgas processing plant near Fort McMurray, approximately 260 miles of NGL and olefins pipelines, as well as an NGL/olefins fractionation facility and butylene/butane splitter facility at Redwater. Williams Partners also acquired an in-progress expansion project at the Redwater facility. The expansion will provide additional fractionation business to Williams Partners related to development of offgas processing at the CNRL Horizon upgrader facility retained by Williams.
News For WPZ;WMB From The Last 14 Days
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April 24, 2015
18:03 EDTWPZWilliams Partners Geismar plant consistently producing ethylene
Williams Partners announced its Geismar, La. olefins plant resumed consistent operations in late March and is expected to produce ethylene at the base plantís production rate through May. The process to achieve its full expanded production rate will be ongoing through June. The expanded plant was ramping up when a new transformer that supplied power to a plant expansion compressor unexpectedly failed. The transformer is being repaired at the original manufacturerís facility. The plant continues to improve production rates due to the ability to use equipment installed as part of the plantís expansion. The plantís expanded production rate is expected to be reached shortly after the repaired transformer is re-installed. Base ethylene production capacity at the plant is 1.35B pounds per year and the expanded capacity is 1.95B pounds per year. Williams Partnersí share of the total capacity of the expanded plant is approximately 1.7B pounds per year. The partnership will provide an update on the status of the plantís operations during a scheduled April 30 investor conference call.

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