Williams Partners and Access Midstream Partners Announce Quarterly Cash Distribution
January 26 2015 - 4:49PM
Business Wire
Williams Partners L.P. (NYSE: WPZ) and Access Midstream
Partners, L.P. (NYSE: ACMP) today announced that the merged master
limited partnership’s first quarterly cash distribution will be
$0.85 per unit for common unitholders.
The previously announced merger of Williams Partners into a
subsidiary of Access Midstream Partners in a unit-for-unit exchange
is expected to close Feb. 2, 2015. The quarterly cash distribution
is payable on Feb. 13 to common unitholders of record at the close
of business on Feb. 9. Following the closing of the merger, it is
anticipated that Access Midstream Partners will change its name to
Williams Partners L.P. and that its units will trade under the
symbol “WPZ.” The merged master limited partnership intends to
provide updated financial guidance on or before Feb. 18.
Williams (NYSE: WMB) owns controlling interests in the two
master limited partnerships.
Fourth-Quarter and Year-end 2014 Financial Results
Williams and the merged master limited partnership plan to
jointly host a conference call and live webcast on Thursday, Feb.
19, at 9:30 a.m. EST following the announcement of their
fourth-quarter and year-end 2014 financial results after the market
closes on Wednesday, Feb. 18.
A limited number of phone lines will be available at (800)
768-6570. International callers should dial (785) 830-1942. A link
to the webcast, as well as replays of the webcast in both streaming
and downloadable podcast formats, will be available for two weeks
following the event at www.williams.com.
About Williams, Williams Partners and Access Midstream
Partners
Headquartered in Tulsa, Okla., Williams is one of the leading
energy infrastructure companies in North America. It owns
controlling interests in both Williams Partners L.P. and Access
Midstream Partners, L.P. through its 100-percent ownership of the
general partner of each partnership. Additionally, Williams owns
approximately 66 percent and 50 percent of the limited partner
units of Williams Partners L.P. and Access Midstream Partners,
L.P., respectively.
Williams Partners owns and operates both onshore and offshore
assets of approximately 15,000 miles of interstate natural gas
pipelines, 1,800 miles of NGL transportation pipelines, an
additional 11,000 miles of oil and gas gathering pipelines and
numerous other energy infrastructure assets. Williams Partners’
operated facilities have daily gas gathering capacity of
approximately 11 billion cubic feet, processing capacity of
approximately 7 billion cubic feet, NGL production of more than
400,000 barrels per day and domestic olefins production capacity of
1.95 billion pounds of ethylene and 90 million pounds of propylene
per year.
Access Midstream Partners owns and operates natural gas
midstream assets across nine states, with an average net throughput
of approximately 4.13 billion cubic feet per day and more than
6,773 miles of natural gas gathering pipelines. ACMP’s operations
are focused on the Barnett, Eagle Ford, Haynesville, Marcellus,
Niobrara and Utica Shales and the Mid-Continent region of the
U.S.
For more information about Williams, Williams Partners and
Access Midstream Partners, visit the Investor Center at
www.williams.com.
This announcement is intended to be a qualified notice to
nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d).
The partnership’s distributions to foreign investors, which are
attributable to income that is effectively connected with a U.S.
trade or business, are subject to withholding under U.S. law. In
light of the uncertainty at the time of making distributions
regarding the portion of any distribution that is attributable to
income that is not effectively connected with a U.S. trade or
business, we treat all of our distributions as attributable to U.S.
operations. Accordingly, the entire amount of the partnership's
distributions to foreign investors is subject to federal income tax
withholding at the highest effective tax rate. Nominees, and not
Williams Partners L.P., are treated as the withholding agents
responsible for withholding on the distributions received by them
on behalf of foreign investors.
Portions of this document may constitute “forward-looking
statements” as defined by federal law. Although the company
believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Any such statements are made in reliance on the “safe
harbor” protections provided under the Private Securities Reform
Act of 1995. Additional information about issues that could lead to
material changes in performance is contained in the company’s
annual reports filed with the Securities and Exchange
Commission.
WilliamsMedia Contact:Tom Droege,
918-573-4034orInvestor Contacts:John Porter,
918-573-0797orBrett Krieg, 918-573-4614
Williams Partners (NYSE:WPZ)
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