Williams (NYSE: WMB) today announced it has closed its acquisition of Momentum Midstream in a transaction valued at approximately $5.5 billion, expanding the company’s integrated natural gas infrastructure platform in the Haynesville to serve growing Gulf Coast LNG, power and industrial demand. The transaction includes approximately $3.5 billion of cash and debt consideration and roughly $2 billion of Williams’ equity.

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Williams closes on $5.5 billion acquisition in fastest-growing natural gas basin in America.

Williams closes on $5.5 billion acquisition in fastest-growing natural gas basin in America.

Momentum’s Haynesville platform adds more than 4,000 miles of pipe, over 1 million dedicated acres, 6 Bcf/d of gathering capacity, multiple processing and treating facilities and three take-or-pay pipelines with 4.05 Bcf/d of transportation capacity. The acquisition expands Williams’ presence in the nation’s fastest growing natural gas supply basin, strengthening connectivity between premier supply and growing demand while creating opportunities for future expansions in addition to the two already announced.

“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,” said Chad Zamarin, Williams president and chief executive officer. “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.”

Advisors

BofA Securities acted as lead financial advisor to Williams. Truist Securities also acted as a financial advisor to Williams in connection with the transaction. Davis Polk & Wardwell served as Williams’ legal counsel on the transaction.

About Williams

Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our infrastructure to deliver one third of the nation’s natural gas to where it’s needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we’ve been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future. Learn more at www.williams.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although Williams believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in Williams’ annual and quarterly reports filed with the SEC.

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