The Williams Companies, Inc
From Wikimarcellus
Tulsa, Oklahoma-based Williams Companies, Inc. (NYSE: WMB) is an oil and gas exploration, production and pipeline company with operations mainly in the continental United States. It's Marcellus shale leasehold, as of May, 2010, consisted of approximately 94,000 net acres acres. Its holdings are primarily located in Susquehanna County in northeastern Pennsylvania, and Fayette, Greene, Washington and Westmoreland counties in southwestern PA. It also has operations in Centre and Clearfield counties.
Williams Transco (aka Transcontinental Gas Pipe Line Corporation) is a subsidiary of Williams Gas Pipeline which itself is a unit of The Williams Companies, Inc. In June, 2009, it was announced that Williams had inked a deal with Rex Energy Corporation for $33 million to acquire a 50% interest on a drill-to-earn basis in 44,000 acres of Rex's Marcellus shale leases in Pennsylvania's Centre, Clearfield and Westmoreland counties.
Willimas was again in the news in May, 2010 when it acquired 42,000 net acres of Marcellus Shale, primarily located in Susquehanna County in northeastern Pennsylvania, from Alta Resources LLC. The cost was $501 million. It also acquired a 5% overriding royalty interest in 48,500 gross acres associated with the 42,000 acres that reduced the royalty burden. The deal closed in July, 2010.
The company was also in the process of leasing an additional 8,000 net acres of Pennsylvania Marcellus shale in another area. After these acquistions, Williams' total Marcellus leasehold amounted to 94,000 net acres. The approximate average cost of acquisition had been $7,000/acre.
- Steve Malcolm is Williams' Chairman, President and CEO.
- Ralph Hill is chief of exploration and production business.
- Frank Billings is Vice President of midstream business development.
- Jeff Pounds is a media spokesman.
- Sharna Reingold is with investor relations.
- Susan Oliver is a William's spokesperson.
