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Williams Reports No Major Damage To Assets Following Hurricane Isaac, Details Downtime Related To Storm

Stocks in this article: WMB WPZ

Williams (NYSE:WMB) and Williams Partners L.P. (NYSE:WPZ) today announced that their onshore and offshore facilities in the eastern and central Gulf of Mexico received no major damage during Hurricane Isaac.

Onshore and offshore assets in the western Gulf of Mexico were not affected by the storm and continue to operate normally. Onshore and offshore assets in the eastern and central Gulf of Mexico were shut in and evacuated early last week prior to the storm.

Operational Update

The Mobile Bay gas processing plant is ready to begin processing gas as soon as producer volumes increase and a third-party natural gas liquid (NGL) pipeline becomes available. The Geismar olefins production facility plans to resume operations this week following several days of maintenance unrelated to the storm.

The Canyon Station offshore platform has resumed normal operations. The Devils Tower floating production system is flowing some gas production and is expected to resume normal operations as soon as a crude oil terminal downstream of the Mountaineer pipeline resumes operations and an NGL pipeline outlet is available.

The Discovery system’s Larose gas processing plant and Paradis fractionator have returned to service.

The Transco interstate gas pipeline system is returning to normal operations as producers bring more production online. Shippers interested in more information should view Transco’s 1Line online bulletin board at www.1line.williams.com/transco.

The Geismar facility is owned by a subsidiary of Williams. All other assets noted above are indirectly held by Williams Partners. Williams owns approximately 66 percent of Williams Partners, including the general-partner interest. Also, Williams Partners owns 60 percent of the Discovery system and operates it. DCP Midstream Partners, LP (NYSE:DPM) owns the other 40 percent of Discovery.

Williams will continue to provide regular updates on Gulf of Mexico assets until operations return to normal at www.williams.com/news-media/gulf-coast-profile/.

About Williams (NYSE: WMB)

Williams is one of the leading energy infrastructure companies in North America. It owns interests in or operates 15,000 miles of interstate gas pipelines, 1,000 miles of NGL transportation pipelines, and more than 10,000 miles of oil and gas gathering pipelines. The company’s facilities have daily gas processing capacity of 6.6 billion cubic feet of natural gas and NGL production of more than 200,000 barrels per day. Williams owns approximately 66 percent of Williams Partners L.P. (NYSE: WPZ), one of the largest diversified energy master limited partnerships. Williams Partners owns most of Williams’ interstate gas pipeline and domestic midstream assets. The company’s headquarters is in Tulsa, Okla.

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