TULSA, Okla.--(BUSINESS WIRE)--May 7, 2020--
Williams (NYSE: WMB) announced today that it has reached an agreement with Chevron and its co-owner, Total E&P USA, Inc., to provide offshore natural gas transportation services to the Anchor development. Anchor is located 140 miles off the coast of Louisiana in the Green Canyon area of the Gulf of Mexico.
Chevron plans to drill multiple wells and construct a floating production platform capable of handling the new rich natural gas and oil production from the Anchor development. Williams will leverage its existing footprint and system capabilities to transport Anchor’s natural gas production to the Discovery system, of which Williams is 60% owner and operator; DCP is 40% owner. The new rich natural gas will be transported to Discovery’s processing plant in Larose, Louisiana, and the natural gas liquids will be fractionated and marketed at Discovery’s Paradis plant in Louisiana.
“We are extremely well-positioned in the Gulf of Mexico, with asset synergies that are second to none in this active region, and we’re pleased to leverage and expand our existing infrastructure to serve the growing needs of deep-water producers,” said Micheal Dunn, Chief Operating Officer for Williams. “Discovery offers producers the full suite of midstream natural gas services to maximize value for its customers, who partner with Williams to help them complete their value chain by safely gathering, processing and delivering the energy that fuels our nation and drives a clean energy economy.”
Anchor is expected to come online in the first half of 2024.
Williams is well known in the Gulf of Mexico as an experienced and reliable operator providing top-quality midstream services producers have grown to trust. The company’s assets in the eastern and western Gulf offer producers the full value chain of capabilities – from well head gathering to processing to fractionation and transmission. Williams owns and operates 3,500 miles of natural gas and oil gathering and transmission pipeline, along with 1.8 Bcfd of cryogenic processing capacity and 60,000 barrels per day of fractionation capacity that span the Gulf of Mexico. The company has ownership in two floating production platforms, multiple fixed leg utility platforms, and numerous other related facilities.
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. www.williams.com
Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company 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 the company’s annual and quarterly reports filed with the Securities and Exchange Commission.
View source version on businesswire.com: