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The Williams Companies, Inc. WMB recently concluded the acquisition of Southern Company's SO wholesale gas trading business comprising Sequent Energy Management, L.P. and Sequent Energy Canada, Corp.
The deal announced in May expands Williams' natural gas pipeline marketing presence to above 8 billion cubic feet per day (Bcf/d) with extensions into new markets to access incremental gas-fired power production, liquefied natural gas (LNG) exports and potential renewable natural gas (RNG) plus other developing possibilities
Sequent supplies gas to markets via transportation and storage arrangements on strategically located assets, such as Williams' Transco system. The firm specializes in asset management as well as wholesale natural gas marketing, trading, storage and transportation for a variety of natural gas utilities and producers.
Sequent Energy management's addition with its strong team and industry-leading technology to Williams' portfolio enhances the latter’s present regional footprint in pipeline transportation and storage business. Williams' president and CEO Alan Armstrong remarked, "As we continue to take a leadership role towards a clean energy future, Williams sees significant opportunity to better source and deliver responsibly produced, low carbon supplies to domestic natural gas and international LNG customers."
Further, Williams' natural gas-centered approach is bolstered by Sequent's operating foothold in the United States and Canada, which gives the company a better North American perspective on natural gas markets.
Founded in 1908, Oklahoma-based Williams is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Possessing a widespread pipeline system, which is extended to more than 33,000 miles, Williams is one of the largest domestic transporters of natural gas by volume.
Zacks Rank & Key Picks
Williams currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are Matador Resources Company MTDR and Oasis Petroleum Inc. OAS, each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Southern Company The (SO) : Free Stock Analysis Report
Williams Companies, Inc. The (WMB) : Free Stock Analysis Report
Oasis Petroleum Inc. (OAS) : Free Stock Analysis Report
Matador Resources Company (MTDR) : Free Stock Analysis Report
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