Ponca City, OK

Now: 52 °F

Currently: Fair

Hi: 52 °F | Lo: 37 °F

Wednesday

Hi: 52 °F 

Lo: 36 °F

Thursday

Hi: 51 °F 

Lo: 36 °F

Friday

Hi: 61 °F 

Lo: 23 °F

Saturday

Hi: 27 °F 

Lo: 6 °F

Sunday

Hi: 27 °F 

Lo: 19 °F

Tulsa-based Williams buys all shares of unit in $10.5B deal

The Associated Press and Tulsa World - May 19, 2018 10:02 am

(Information from: Tulsa World, http://www.tulsaworld.com)
TULSA, Okla. (AP) – A Tulsa-based natural gas company has agreed to acquire all public equity of its subsidiary.
The Tulsa World reports that Williams Companies will purchase all of the outstanding public common units of Williams Partners as part of an agreement announced Thursday. The stock-for-unit transaction is valued at $10.5 billion.
The announcement follows a Federal Energy Regulatory Commission decision earlier this year to revise a tax policy permitting master limited partnership interstate oil and natural gas pipelines to maintain an income tax allowance in cost-of-service rates.
Williams Companies CEO Alan Armstrong says the deal will maintain the income tax allowance and simplify the company’s corporate structure.
Williams Companies owns nearly 75 percent of Williams Partners, which owns and operates more than 33,000 miles of pipelines, including the Transco pipeline.

 

Latest Stories

Oklahoma City students now permitted to use medical marijuana at school

OKLAHOMA CITY (AP) – Students in the Oklahoma City school district with medical conditions that require...

Stitt names more appointments

OKLAHOMA CITY (AP) – Oklahoma’s new Gov. Kevin Stitt is putting more of his key hires...

RecPlex continues updates

The Ponca City RecPlex continues updates into the new year. Exterior signage has been replaced except...