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Stock Market & Financial Investment News

News Breaks
March 24, 2014
08:34 EDTWPZWilliams Partners says Gulfstar FPS near completion
Williams Partners reported key construction milestones and progress on a tieback expansion as its proprietary Gulfstar FPS nears completion in the eastern deepwater Gulf of Mexico. The Gulfstar One project is the first spar-based floating production system with major components built entirely in the U.S. Once operational, the Gulfstarís base design will produce up to 60K barrels of oil per day and 135M standard cubic feet of gas per day with additional tieback capacity. With hook-up and commissioning activities currently underway, Gulfstar is on schedule to start serving anchor customers in 3Q14 and Gunflint in fY16.
News For WPZ 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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