Easton Energy Announces Acquisition of Gulf Coast Natural Gas Liquids Pipeline Systems from Williams
Williams Companies, Inc. (The) (WMB)
Last williams companies, inc. (the) earnings: 2/19 04:15 pm
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Source: PR Newswire
HOUSTON, Dec. 6, 2018 /PRNewswire/ -- Easton Energy LLC ("Easton" or the "Company"), a Houston based midstream company, today announced the acquisition of approximately 416 miles of Gulf Coast natural gas liquids (NGL) pipelines from The Williams Companies, Inc. (NYSE: WMB) for $177 million in cash. The pipeline assets are primarily used to transport natural gas liquids from various supply sources to petrochemical consumers in Texas and Louisiana markets. The transaction was completed in partnership with Easton's financial sponsor, Cresta Energy Capital, an energy infrastructure focused private equity firm based in Dallas."Paired with our salt cavern storage development at Markham, Texas, this acquisition represents an opportunity for Easton to utilize a significant footprint of pipelines to connect key NGL storage markets with end users along the Texas Gulf Coast," said Joel McComas, President, Easton Energy."It has been exciting to partner with Easton since its formation," said Chr
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