Thursday, February 25, 2021
CHESAPEAKE CHURCH
  • Home
  • Local News
  • Church
  • Faith
  • Helping Needy
  • Education
  • Chesapeake
  • Christianity
  • Military News
No Result
View All Result
  • Home
  • Local News
  • Church
  • Faith
  • Helping Needy
  • Education
  • Chesapeake
  • Christianity
  • Military News
No Result
View All Result
CHESAPEAKE CHRUCH
No Result
View All Result
Home Chesapeake

Williams’ (WMB) Midstream Deal With Chesapeake Gains Approval – December 18, 2020

Amy Belcher by Amy Belcher
December 18, 2020
in Chesapeake
0
Williams’ (WMB) Midstream Deal With Chesapeake Gains Approval – December 18, 2020
585
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter


Williams Companies, Inc. (WMB – Free Report) received approval from the bankruptcy court of the United States for the global resolution it reached with Chesapeake Energy Corporation last month. The settlement enables Chesapeake to restructure its debts and remain in operation as it advances in bankruptcy proceedings.

Post approval, Williams received a payment of $112 million from Chesapeake, pertaining to all pre-petition debts and overdue receivables related to the midstream expenses under the terms of the contract.

Earlier, Chesapeake filed for bankruptcy protection from creditors to repay debts worth $7 billion. The filing was expected to have an impact on drilling firms and gas transportation facilities, which had to face rejections and reduced charges in the bankruptcy court. Several legal actions were taken by the midstream companies against upstream operators, who rejected gathering agreements made before the pandemic as well as those who restructured it outside of court.

Further, the shale producer plans to enter a long-term agreement to supply about 100,000-150,000 dekatherm of gas/day for Williams’ Transco Regional Energy Access (“REA”) pipeline, currently under construction. In addition to this, Chesapeake agreed to not reject Williams’ gathering agreements in the Eagle Ford, Marcellus or Midcontinent regions.

As part of the resolution, Williams will partly grab the ownership of Chesapeake’s South Mansfield producing assets of nearly 50,000 net mineral acres for approving lower gathering and transportation fees. This allows Williams to transform the acreage into a strong, productive operator to market substantial gas volumes for future downstream opportunities.  The reduced fee is expected to promote further drilling across Chesapeake’s Haynesville area.

The midstream company will continue to provide service and transport Chesapeake’s natural gas in the Lower 48. The restructuring agreement would, thus, enable Chesapeake to own a reliable outlet for its natural gas production. Importantly, the transaction is expected to strengthen Chesapeake’s position and allow Williams to upgrade its midstream infrastructure by bringing adequate capitalization to affordable gas reserves.

Company Profile & Price Performance

Headquartered in Tulsa, OK, Williams is a leading energy infrastructure provider in North America. The company’s shares have outperformed the industry in the past six months. Its stock has gained 13.4% compared with the industry’s 8% growth.

 

 

Zacks Rank & Stocks to Consider

Williams currently carries a Zack Rank #3 (Hold). Some better-ranked players in the energy space are Exxon Mobil Corporation (XOM – Free Report) and Altus Midstream Company (ALTM – Free Report) . Both companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Exxon Mobil is expected to see earnings growth of 517.2% in 2021, while Altus Midstream is likely to see earnings growth of 364.5% next year.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>





Source link

You might also like

Report: Climate Change a Major Threat to Recreational Fishing

A Five Star Review of Western Branch Chiropractic Clinic

Here is another Impressive Review of Western Branch Chiropractic in Chesapeake

Tags: ApprovalChesapeakedealDecemberGainsMidstreamWilliamsWMB
Previous Post

Donations distributed Thursday for the annual “Operation Joy” in Corbin

Next Post

Henry C. “Jimmie” White, III

Amy Belcher

Amy Belcher

Related Posts

Report: Climate Change a Major Threat to Recreational Fishing
Chesapeake

Report: Climate Change a Major Threat to Recreational Fishing

by Amy Belcher
February 24, 2021
A Five Star Review of Western Branch Chiropractic Clinic
Chesapeake

A Five Star Review of Western Branch Chiropractic Clinic

by News13Now
February 23, 2021
Here is another Impressive Review of Western Branch Chiropractic in Chesapeake
Chesapeake

Here is another Impressive Review of Western Branch Chiropractic in Chesapeake

by News13Now
February 23, 2021
Western Branch Chiropractic in Chesapeake gets another Five Star Review
Chesapeake

Western Branch Chiropractic in Chesapeake gets another Five Star Review

by News13Now
February 23, 2021
Seven girls in Hampton Roads among first female Eagle Scouts in America
Chesapeake

Seven girls in Hampton Roads among first female Eagle Scouts in America

by Amy Belcher
February 19, 2021
Next Post
Henry C. “Jimmie” White, III

Henry C. "Jimmie" White, III

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Martinsburg family gave five generations of service in the US military

West Virginia family gave five generations of service in the US military

October 7, 2020
Rival Texas HS Quarterback Brothers To Face Each Other On Field – CBS Dallas / Fort Worth

Rival Texas HS Quarterback Brothers To Face Each Other On Field – CBS Dallas / Fort Worth

November 7, 2020

Categories

  • Chesapeake
  • Christianity
  • Chronic Pain
  • Church
  • Education
  • Faith
  • Helping Needy
  • Local News
  • Military News
  • Personal Finances
  • Uncategorized

Don't miss it

Bartus Trew fund provides grant for Tubman project | News
Church

Bartus Trew fund provides grant for Tubman project | News

February 24, 2021
Report: Climate Change a Major Threat to Recreational Fishing
Chesapeake

Report: Climate Change a Major Threat to Recreational Fishing

February 24, 2021
San Antonio mayor, philanthropist organizing winter storm recovery funds to help residents
Helping Needy

San Antonio mayor, philanthropist organizing winter storm recovery funds to help residents

February 23, 2021
A Five Star Review of Western Branch Chiropractic Clinic
Chesapeake

A Five Star Review of Western Branch Chiropractic Clinic

February 23, 2021
Here is another Impressive Review of Western Branch Chiropractic in Chesapeake
Chesapeake

Here is another Impressive Review of Western Branch Chiropractic in Chesapeake

February 23, 2021
Western Branch Chiropractic in Chesapeake gets another Five Star Review
Chesapeake

Western Branch Chiropractic in Chesapeake gets another Five Star Review

February 23, 2021

Recent News

Bartus Trew fund provides grant for Tubman project | News

Bartus Trew fund provides grant for Tubman project | News

February 24, 2021
Report: Climate Change a Major Threat to Recreational Fishing

Report: Climate Change a Major Threat to Recreational Fishing

February 24, 2021

Categories

  • Chesapeake
  • Christianity
  • Chronic Pain
  • Church
  • Education
  • Faith
  • Helping Needy
  • Local News
  • Military News
  • Personal Finances
  • Uncategorized

Follow Us

Contact Us

© 2020 ChesaPeakeChurchOnline

No Result
View All Result
  • Home
  • Local News
  • Church
  • Faith
  • Helping Needy
  • Education
  • Chesapeake
  • Christianity
  • Military News

© 2020 ChesaPeakeChurchOnline