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April 28, 2014
08:07 EDTWPZWilliams makes plans to bring Opal facility back in service after fire
Williams Partners is deploying safety measures and performing initial assessment of damage in a small area of one of the five plants on its 160-acre Opal, Wyoming., gas-processing facility that was directly affected by a fire last week. In coordination with regulatory agencies, the company is assessing damage and developing preliminary plans to bring the other four plants back into service in a safe, systematic and timely manner. The capacity of the four undamaged plants totals 1.1B cubic feet of gas per day, which is sufficient to handle all of the natural gas currently available to the facility. The facility has been shut down since the incident occurred on April 23. There were no reported injuries or damage to property outside the facility. The plantís emergency procedures performed as designed. Although the company has not yet made a full assessment of all plant equipment, the initial visual assessment of damage indicates that the impact was largely limited to a small area of the TXP-3 unit. At the time of the incident, it was one of the four units the plant had running to handle recent daily inlet volumes of approximately 1B cubic feet of natural gas. The fifth unit was idle, serving as excess capacity for the facility. Information from the companyís visual inspection of the damage area indicates that there was a release of natural gas that was subsequently ignited. The focus of the investigation will be on the cause of the release and source of ignition. Company personnel are inspecting the damaged equipment in cooperation with regulatory authorities. The company plans a detailed assessment of damage, followed by development of plans to address the damaged equipment.
News For WPZ From The Last 14 Days
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October 5, 2015
06:37 EDTWPZColumbia Pipeline Group announces Williams Partners to join Pennant JV
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September 28, 2015
10:01 EDTWPZETE sees steps towards investment grade rating in 2017
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09:44 EDTWPZEnergy Transfer Equity sees cutting costs for Chesapeake, raising cash flow
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09:40 EDTWPZEnergy Transfer Equity expects $2B in synergies by 2020
09:30 EDTWPZEnergy Transfer Equity expects to form LNG affiliate in 2016
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07:10 EDTWPZWilliams Partners announces termination of merger agreement with Williams
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07:07 EDTWPZEnergy Transfer Equity sees Williams deal immediately accretive to cash flow
At closing, the transaction will be immediately accretive to distributable cash flow and distributions per unit for ETE and is expected to be credit positive to ETE's credit ratings; ETE's distribution growth rate is expected to remain at its current level; As a result of diligence, the size of both the expected cost savings and the anticipated commercial synergies exceeds ETE's previous expectations and will help ensure that the duration of ETE's distribution growth rate will be longer as a result of the transaction. There is no expected impact to WPZ's credit ratings as a result of the ETE/Williams combination; WPZ unitholders will have greater distributable cash flow from material cost savings and synergies of up to $400 million per annum with WPZ joining the Energy Transfer shared service model; the combination will create new commercial opportunities for WPZ, including the potential to acquire assets from the overall Energy Transfer group, that will improve WPZ's business outlook, cash flow growth and overall financial profile; WPZ unitholders will benefit from having a general partner, ETE, that, based on the unique intrinsic financial and strategic optionality in the Energy Transfer family, will be in a position to help WPZ fully realize its long-term growth potential; and WPZ will receive a $428 million break-up fee for the termination of its merger agreement with WMB payable to all outstanding limited partnership units of WPZ including WMB's approximate 60 percent ownership.
07:05 EDTWPZWilliams Partners, Williams withdraw financial guidance
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07:04 EDTWPZEnergy Transfer Equity to combine with Williams in $37.7B transaction
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07:02 EDTWPZEntergy Transfer Equity to combine with Williams
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