US natural pipeline operator, Williams has closed its acquisition of Momentum Midstream in a deal valued at around $5.5 bill.
This transaction expands the company’s integrated natural gas infrastructure platform in the Haynesville to serve growing US Gulf Coast LNG, power and industrial demand, it said.
The purchase price includes about $3.5 bill of cash and debt consideration and roughly $2 bill of Williams’ equity.
Momentum’s Haynesville platform adds more than 4,000 miles of pipeline, over 1 mill dedicated acres, 6 bill cu ft per day of gathering capacity, multiple processing and treating facilities and three take-or-pay pipelines with 4.05 bill cu ft of transport capacity.
BofA Securities acted as Williams’ financial advisor, while Truist Securities was also another financial advisor contracted. Davis Polk & Wardwell served as Williams’ legal counsel on the transaction.
