Williams Cos. Inc. (NYSE: WMB) said March 23 it has launched a second offgas processing plant in Alberta, advancing its "unique position" in Canada.
The new offgas liquids extraction plant boosts domestic production of petchem feedstocks and significantly reduces emissions in the oil sands production process while recovering valuable NGL and olefins, the release said.
The plant was designed to reduce CO2 emissions from oil sands production facility by about 200,000 tonnes per year. It will also add 15,000 barrels per day, or 60%, to Williams' NGL production capacity in Canada.
Williams said the plant is a key asset in the Tulsa, Okla.-based company's unrivaled value-add Canadian midstream and petchem business backed by multi-decade contracts.
Recommended Reading
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
APA Corp. Declares Cash Dividend
2024-02-12 - At a rate of $0.25 per share, APA’s dividend is payable May 22 to stockholders of record by April 22.