Williams Announces Deepwater Tieback Agreement at Devils Tower
June 17 2020 - 6:00AM
Business Wire
Williams (NYSE: WMB) announced today that it has reached a
tieback agreement with LLOG Exploration Offshore, L.L.C. (LLOG) to
provide offshore natural gas and oil gathering and production
handling services for the Taggart development at Williams’ Devils
Tower Spar, which is located 140 miles southeast of New Orleans in
the Mississippi Canyon area of the Gulf of Mexico. In addition to
gathering and production handling, Williams will provide onshore
gas treatment and processing services to support the Taggart
development.
“We are pleased to provide the full spectrum of midstream
capabilities to another deep-water producer in the Gulf,” said
Micheal Dunn, Chief Operating Officer for Williams. “Interconnected
unlike any other, our offshore and onshore infrastructure allows us
to maximize value for our customers by providing a safe, seamless
and efficient direct path to market. We look forward to serving
LLOG and capturing the full value of these important deep-water
resources for our nation’s economy.”
Williams will leverage its existing footprint and system
capabilities to gather Taggart crude and natural gas production
through Williams’ Mountaineer and Canyon Chief pipeline systems.
The natural gas will be delivered to Williams’ Mobile Bay
Processing Plant, and the natural gas liquids will be fractionated
and marketed at the Baton Rouge Fractionator (Williams 33% owner)
in Louisiana.
Taggart is expected to come online in early 2022, and the
reserves are expected to produce approximately 27 million barrels
over eight years.
Williams is well known in the Gulf of Mexico as an experienced
and reliable operator providing top-quality midstream services
producers have grown to trust. The company’s Gulf of Mexico assets
offer producers the full value chain of capabilities – from well
head gathering to processing to fractionation and transmission.
Williams owns and operates 3,500 miles of natural gas and oil
gathering and transmission pipelines, along with 1.8 billion cubic
feet per day of cryogenic processing capacity and 60,000 barrels
per day of fractionation capacity that span the Gulf of Mexico. The
company has ownership in two floating production platforms,
multiple fixed leg utility platforms, and numerous other related
facilities.
About Williams
Williams (NYSE: WMB) is committed to being the leader in
providing infrastructure that safely delivers natural gas products
to reliably fuel the clean energy economy. Headquartered in Tulsa,
Oklahoma, Williams is an industry-leading, investment grade C-Corp
with operations across the natural gas value chain including
gathering, processing, interstate transportation and storage of
natural gas and natural gas liquids. With major positions in top
U.S. supply basins, Williams connects the best supplies with the
growing demand for clean energy. Williams owns and operates more
than 30,000 miles of pipelines system wide – including Transco, the
nation’s largest volume and fastest growing pipeline – and handles
approximately 30 percent of the natural gas in the United States
that is used every day for clean-power generation, heating and
industrial use. www.williams.com
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 and quarterly reports filed with the Securities and Exchange
Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200617005102/en/
MEDIA: media@williams.com (800) 945-8723 INVESTOR CONTACTS:
Brett Krieg (918) 573-4614 Grace Scott (918) 573-1092
Williams Companies (NYSE:WMB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Williams Companies (NYSE:WMB)
Historical Stock Chart
From Jul 2023 to Jul 2024