Williams Stock Price, News & Analysis

Williams (NYSE: WMB) received bankruptcy court approval for a global resolution with Chesapeake related to its Chapter 11 restructuring. Chesapeake will pay Williams $112 million for pre-petition and past due midstream expenses. Key aspects of the agreement include Chesapeake's commitment to honor existing gathering agreements and a reduction in gathering fees in exchange for a stake in Chesapeake's South Mansfield assets. This deal is expected to drive additional drilling in the Haynesville region and enhance Williams' cash flow from its unused midstream capacity.

Transcontinental Gas Pipe Line Company, a subsidiary of Williams (NYSE: WMB), has extended its exchange offer for $700 million in 3.250% Senior Notes due 2030 and $500 million in 3.950% Senior Notes due 2050 until December 16, 2020. As of December 11, 2020, approximately 99.8% of the 3.250% notes and 100% of the 3.950% notes had been tendered. The terms remain unchanged, and the offer is made under a prospectus filed with the SEC. Williams operates over 30,000 miles of pipelines, handling 30% of the U.S. natural gas supply for clean energy needs.

Williams (NYSE: WMB) has appointed Rose Robeson as an independent director on its Board, effective December 10, 2020. With over 32 years in the energy sector, Robeson served as CFO of DCP Midstream and holds extensive experience in financial governance. Her appointment aims to enhance the board's diversity and strengthen corporate governance practices. Currently, Williams' Board consists of 12 members, 11 being independent, reflecting a commitment to delivering long-term value and sustainable growth for shareholders.

Williams (NYSE: WMB) announced that CFO John Chandler will participate in the 2020 Wells Fargo Virtual Midstream Utility Symposium on December 9, 2020. The event features a fireside chat Q&A session beginning at 3:20 p.m. ET. Investors can access a live webcast and replay at https://investor.williams.com. Williams, headquartered in Tulsa, Oklahoma, operates over 30,000 miles of pipelines, handling 30% of the U.S. natural gas supply for clean energy.

Williams (NYSE: WMB) has reached a global resolution with Chesapeake Energy as part of its Chapter 11 bankruptcy process. Chesapeake will settle all outstanding midstream expenses and maintain existing gathering agreements with Williams. In exchange for reduced gathering fees in the Haynesville, Williams will acquire a stake in Chesapeake’s South Mansfield assets, enhancing its midstream capacity. Chesapeake commits to a long-term gas supply for the Transco Regional Energy Access pipeline, boosting takeaway capacity for Marcellus production and reinforcing Williams’ infrastructure strength.

Transcontinental Gas Pipe Line Company, a subsidiary of The Williams Companies (NYSE: WMB), has initiated an exchange offer for $700 million of 3.250% Senior Notes due 2030 and $500 million of 3.950% Senior Notes due 2050. The exchange notes, registered under the Securities Act, have similar terms as the original notes but without restrictions. The offer will expire on December 11, 2020. This initiative fulfills obligations under a registration rights agreement linked to the original notes, with no proceeds expected from the exchange.

Williams reported solid 3Q 2020 results, with a net income of $308 million ($0.25 per diluted share), an increase of $88 million compared to 3Q 2019. Adjusted EBITDA reached $1.267 billion, and year-to-date adjusted EBITDA stood at $3.769 billion, surpassing last year's figures. The company's debt-to-adjusted EBITDA ratio was 4.42x, on track to meet its 2020 guidance. Strong performance from the Northeast G&P segment contributed to a 19% increase in modified EBITDA. Williams also committed to reducing emissions by 56% by 2030.

Williams (NYSE: WMB) will release its third-quarter 2020 financial results after market close on November 2, 2020. The earnings conference call is set for November 3, 2020, at 9:30 a.m. ET, accessible via phone and webcast. Williams, a leader in natural gas infrastructure, operates over 30,000 miles of pipelines, handling approximately 30% of the U.S. natural gas supply. The company aims to connect natural gas supply with the growing demand for clean energy, furthering its commitment to a sustainable energy economy.