All CATEGORIES
☰ Menu
Ohio Utica Shale

Access Midstream confirms sale, merger plans with Williams

By Bob Downing Published: June 21, 2014

From Access Midstream earlier this week:

OKLAHOMA CITY--(BUSINESS WIRE)--Jun. 15, 2014-- Access Midstream Partners, L.P. (NYSE:ACMP) (the “Partnership”) today confirmed that Williams Companies, Inc. (“Williams”) announced it had entered into an agreement to acquire all of the interests in both Access Midstream Partners, L.P. (the “Partnership”) and the Partnership’s general partner, Access Midstream Partners GP, L.L.C, currently owned by Global Infrastructure Partners II (“GIP”). If this transaction is completed, Williams will own and control the Partnership’s general partner and GIP will no longer have any ownership interest in the Partnership or its general partner.

Williams also announced a proposal regarding a possible merger transaction involving the Partnership and Williams Partners L.P. (NYSE:WPZ). The board of directors of the Partnership’s general partner will carefully consider any such proposal with its advisors and, if appropriate, may authorize the conflicts committee of the board to consider such proposal.

"First, I'd like to thank GIP for their partnership with us, which dates back to the pre-IPO formation of ACMP in 2009. Since that time, they have provided superb guidance and support that has allowed our partnership to create substantial equity value for all of our unitholders,” J. Mike Stice, ACMP’s CEO commented. “I am also excited about ACMP being a part of the Williams family of companies. Since Williams invested in ACMP in 2012, it’s been clear to me that our companies share many common values on matters such as customer service, operational excellence and the focus on the development of our employees. With respect to the proposed merger of ACMP and WPZ, I am confident that ACMP’s board of directors will engage in a thorough analysis and process to provide a positive outcome for ACMP unitholders."

Access Midstream Partners, L.P. (NYSE:ACMP) is the industry’s largest gathering and processing master limited partnership as measured by throughput volume and owns, operates, develops and acquires natural gas gathering systems and other midstream energy assets. Headquartered in Oklahoma City, the Partnership's operations are focused on the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica Shales and the Mid-Continent region of the U.S.

This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Forward-looking statements give our current expectations or forecasts of future events. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this release, and we undertake no obligations to update this information. Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to be correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in our 2013 Annual report on Form 10-K and our other SEC filings.

Print
Add This

SUBSCRIBE VIA RSS

OHIO.COM VIDEOS

See the most recent drilling report and an injection wells map From NewsOutlet.org
Prev Next

Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.