Williams Partners L.P. (NYSE: WPZ) and Access Midstream Partners, L.P. (NYSE: ACMP) today announced that the merged master limited partnership's first quarterly cash distribution will be $0.85 per unit for common unitholders. The previously announced merger of Williams Partners into a subsidiary of Access Midstream Partners in a unit-for-unit exchange is expected to close Feb. 2, 2015. The quarterly cash distribution is payable on Feb. 13 to common unitholders of record at the close of business on Feb. 9. Following the closing of the merger, it is anticipated that Access Midstream Partners will change its name to Williams Partners L.P. and that its units will trade under the symbol "WPZ." The merged master limited partnership intends to provide updated financial guidance on or before Feb. 18. Williams (NYSE: WMB) owns controlling interests in the two master limited partnerships. Fourth-Quarter and Year-end 2014 Financial Results Williams and the merged master limited partnership plan to jointly host a conference call and live webcast on Thursday, Feb. 19, at 9:30 a.m. EST following the announcement of their fourth-quarter and year-end 2014 financial results after the market closes on Wednesday, Feb. 18. A limited number of phone lines will be available at (800) 768-6570. International callers should dial (785) 830-1942. A link to the webcast, as well as replays of the webcast in both streaming and downloadable podcast formats, will be available for two weeks following the event at www.williams.com. About Williams, Williams Partners and Access Midstream Partners Headquartered in Tulsa, Okla., Williams is one of the leading energy infrastructure companies in North America. It owns controlling interests in both Williams Partners L.P. and Access Midstream Partners, L.P. through its 100-percent ownership of the general partner of each partnership. Additionally, Williams owns approximately 66 percent and 50 percent of the limited partner units of Williams Partners L.P. and Access Midstream Partners, L.P., respectively.
Williams Partners owns and operates both onshore and offshore assets of approximately 15,000 miles of interstate natural gas pipelines, 1,800 miles of NGL transportation pipelines, an additional 11,000 miles of oil and gas gathering pipelines and numerous other energy infrastructure assets. Williams Partners' operated facilities have daily gas gathering capacity of approximately 11 billion cubic feet, processing capacity of approximately 7 billion cubic feet, NGL production of more than 400,000 barrels per day and domestic olefins production capacity of 1.95 billion pounds of ethylene and 90 million pounds of propylene per year.Access Midstream Partners owns and operates natural gas midstream assets across nine states, with an average net throughput of approximately 4.13 billion cubic feet per day and more than 6,773 miles of natural gas gathering pipelines. ACMP's operations are focused on the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica Shales and the Mid-Continent region of the U.S. For more information about Williams, Williams Partners and Access Midstream Partners, visit the Investor Center at www.williams.com. This announcement is intended to be a qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d). The partnership's distributions to foreign investors, which are attributable to income that is effectively connected with a U.S. trade or business, are subject to withholding under U.S. law. In light of the uncertainty at the time of making distributions regarding the portion of any distribution that is attributable to income that is not effectively connected with a U.S. trade or business, we treat all of our distributions as attributable to U.S. operations. Accordingly, the entire amount of the partnership's distributions to foreign investors is subject to federal income tax withholding at the highest effective tax rate. Nominees, and not Williams Partners L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. 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 reports filed with the Securities and Exchange Commission.