Williams Up; In Gas Transportation Services Agreement with Chevron, Total
08 May 2020 - 1:50AM
Dow Jones News
By Michael Dabaie
Williams Cos. shares were up 4.2% to $19.39 in late morning
trading.
The energy infrastructure company earlier said it is in an
agreement with Chevron Corp. and Total E&P USA Inc. to provide
offshore natural gas transportation services to the Anchor
development, 140 miles off the coast of Louisiana in the Green
Canyon area of the Gulf of Mexico.
Williams said Chevron plans to drill multiple wells and
construct a floating production platform capable of handling the
new rich natural gas and oil production from the Anchor
development.
Williams will transport Anchor's natural gas production to the
Discovery system, of which Williams is 60% owner and operator. The
new rich natural gas will be transported to Discovery's processing
plant in Larose, La., and the natural gas liquids will be
fractionated and marketed at Discovery's Paradis plant in
Louisiana.
Anchor is expected to come online in the first half of 2024,
Williams said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 07, 2020 11:35 ET (15:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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