Williams continues clean energy strategy and expansion through latest acquisition
In March 2022, Williams Companies, Inc. (Williams) announced the acquisition of the gathering and processing assets of Trace Midstream (Trace), a portfolio company of Quantum Energy Partners, for $950.0 million. This acquisition expands William’s footprint in East Texas, increasing its gathering capacity from 1.8 Bcf/d (billion cubic feet per day) to over 4 Bcf/d. Additionally, it advances the company's clean energy strategy. Williams stated, "The acquisition is expected to result in an investment at approximately six times 2023 EBITDA, with strong growth anticipated and minimal expansion capital required, thereby supporting Williams’ strong credit metrics."
ESG|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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