Williams has completed its approximately $5.5 billion acquisition of Momentum Midstream, significantly expanding its natural gas infrastructure platform in the Haynesville Basin.
The transaction includes approximately $3.5 billion of cash and debt consideration and roughly $2 billion of Williams equity.
Momentum’s Haynesville platform adds more than 4,000 miles of pipelines, over one million dedicated acres and 6 Bcf per day of gathering capacity to Williams.
The acquired portfolio also includes multiple natural gas processing and treating facilities and three take-or-pay pipelines with 4.05 Bcf per day of transportation capacity.
The acquisition increases Williams’ exposure to the Haynesville, a major U.S. natural gas production region that is positioned to supply growing LNG, power generation, and industrial demand along the Gulf Coast.
Williams said the combination also creates opportunities for additional infrastructure expansions beyond the two projects already announced.
Momentum’s long-term take-or-pay contracts and existing customer relationships are expected to complement Williams’ broader natural gas infrastructure strategy while providing a platform for additional investment and capacity expansion.
BofA Securities acted as lead financial advisor to Williams, while Truist Securities also provided financial advice. Davis Polk & Wardwell served as Williams’ legal counsel.
KEY QUOTE:
“With the acquisition now complete, Williams has established a premier Haynesville position that strengthens our ability to serve rapidly growing LNG, power and industrial demand along the Gulf Coast. Momentum brings a high-quality customer base, durable take-or-pay contracts and complementary infrastructure that provides a growth platform to advance our natural gas-focused strategy. We are pleased to welcome Momentum employees to Williams and look forward to delivering safe, reliable service while creating long-term value for shareholders.”
Chad Zamarin, President and Chief Executive Officer of Williams
