Williams Announces Global Resolution with Chesapeake Energy on Chapter 11 Bankruptcy

摘要

Williams announced November 23, that it has reached a global resolution with Chesapeake Energy Corp. as part of Chesapeake’s Chapter 11 bankruptcy restructuring process. As part of the global resolution, pending bankruptcy court approval, Chesapeake will pay all pre-petition and past due receivables related to midstream expenses, per the existing contracts; Chesapeake will not attempt to reject Williams’ gathering agreements in the Eagle Ford, Marcellus, or Mid-Con; in the Haynesville, Williams has agreed to reduce its gathering fees in exchange for gaining ownership of a portion of Chesapeake’s South Mansfield producing assets, which include 50,000 net mineral acres; and Chesapeake will enter into a long-term gas supply commitment of a minimum 100 million Dth/d and up to 150 million Dth/d for the Transco Regional Energy Access pipeline currently under development.