Williams Partners‘ total consideration for the assets was $702m in cash and $80m in Williams limited-partner and general-partner units.
The assets include the Parachute Plant Complex and three other treating facilities with a combined processing capacity of 1.2 billion cubic feet per day (bcf/d), and a gathering system with approximately 150 miles of pipeline.
There are more than 3,300 wells connected to the gathering system, which includes pipelines ranging up to 30-inch trunk lines.
Williams Partners funded the cash portion of the acquisition with a combination of the proceeds of the $600m debt offering which was completed earlier this month and its existing revolving credit facility.
Williams Partners is focused on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid fractionation; and oil transportation.
Williams owns approximately 77% of Williams Partners, including the general-partner interest.
