Williams has completed its approximately $5.5bn acquisition of Momentum Midstream, expanding the natural gas company’s gathering and transmission footprint in the US Haynesville Shale.
The consideration consists of around $3.5bn in cash and debt, plus roughly $2bn of Williams equity. EnCap Flatrock Midstream, a financial sponsor of Momentum, entered into the definitive agreements for the sale with Williams in August 2026.
The acquired platform brings more than 4,000 miles of pipe, in excess of one million dedicated acres, six billion cubic feet per day (bcf/d) of gathering capacity, and multiple processing and treating facilities. It also includes three take-or-pay pipelines with a combined transportation capacity of 4.05bcf/d.
Williams said the deal strengthens supply links in what it describes as the country’s fastest-growing natural gas supply basin.
The company added that the enlarged system creates opportunities for further expansions in addition to two already announced.
Williams president and CEO Chad Zamarin said: “With the acquisition now complete, Williams has established a premier Haynesville position that strengthens our ability to serve rapidly growing LNG [liquefied natural gas], power and industrial demand along the Gulf Coast.”
Houston-headquartered Momentum moves gas to Gulf Coast markets via the Bethel, Carthage and Silsbee hubs in east Texas and the Gillis hub in south-west Louisiana. Its system, with a capacity of approximately 6bcf/d, serves more than 140 customers including 34 industrial end-users, 26 power plants, 16 city gates and ten LNG facilities.
Zamarin said: “Momentum brings a high-quality customer base, durable take-or-pay contracts and complementary infrastructure that provides a growth platform to advance our natural gas-focused strategy. We are pleased to welcome Momentum employees to Williams and look forward to delivering safe, reliable service while creating long-term value for shareholders.”
Momentum acquired two Haynesville gathering and transmission assets in September 2022. It took a final investment decision on its New Generation Gas Gathering (NG3) project, a 255-mile system providing 1.75bcf/d of deliverability to Gillis, an aggregation and dispatch hub for US LNG demand.
NG3 incorporates a carbon capture and sequestration programme, described as the first of its kind, and is able to handle up to 1.8 million tonnes of carbon dioxide a year.
In April 2025, Momentum closed its purchase of Clearfork Midstream, completing its transformation into a wellhead-to-market natural gas midstream platform.
BofA Securities acted as lead financial adviser to Williams, with Truist Securities also advising on the transaction. Davis Polk & Wardwell served as legal counsel.
Last month, Williams reported unaudited generally accepted accounting principles net income of $827m, or $0.68 per diluted share, for the second quarter of 2026, up 51% year on year. Adjusted net income was $614m, or $0.50 per diluted share, an increase of 8%.
