Deals
Williams Buys Marcellus Gas Pipeline System for $2.5 Billion
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Williams Partners LP, the third-biggest U.S. pipeline partnership, agreed to buy a natural-gas pipeline system in the Marcellus Shale from closely held Caiman Energy LLC for $2.5 billion in cash and equity.
Williams will acquire the pipeline unit Caiman Eastern Midstream LLC, which built pipelines, two processing plants and a gas-liquids fractionator with backing from private-equity firm EnCap Flatrock Midstream, according to a statement from Williams. Caiman has agreements with 10 producers to gather and process gas and petroleum liquids from wells drilled across 236,000 acres in West Virginia, Ohio and Pennsylvania.