Williams expects gas volume growth hit from producer cutbacks in oil-directed shale basins

摘要

Producer cutbacks in US shale basins where crude oil is the lure will reduce growth in associated gas volumes available to be shipped on Williams’ pipelines, CEO Alan Armstrong said Wednesday. While delivering what he described as “bad news” to investors during a webcast, including that the midstream operator’s guidance for earnings before certain costs are expected to come in toward the lower end of its previously forecast range, Armstrong said Williams’ vast footprint should help it weather the current low price environment and weakening demand due to the coronavirus pandemic.