Williams, Brazos Midstream Eye Permian Natural Gas, Oil Expansion

摘要

Tulsa-based pipeline giant Williams is teaming up with Permian Basin pure-play Brazos Midstream to expand their natural gas and crude oil footprint in West Texas. Under terms of the joint venture (JV) announced late Thursday, Williams is contributing the muscle, including its existing Delaware sub-basin assets in exchange for a 15% minority position in the Brazos system. Brazos, which is providing most of the assets, would own an 85% stake in the JV and operate the systems.