Williams Partners LP (NYSE: WPZ) announced Feb. 26 it priced a public offering of $3 billion of its senior notes.
The Tulsa, Okla.-based company priced $1.25 billion of its 3.6% notes due 2022 at 99.968% of par, $750 million of its 4% notes due 2025 at 99.675% of par, and $1 billion of its 5.1% notes due 2045 at 99.522% of par.
Proceeds will be used to repay indebtedness, which may include amounts outstanding under the partnership’s commercial paper program and credit facility, to fund capital expenditures and for general partnership purposes.
Barclays, BofA Merrill Lynch and Wells Fargo Securities are joint book-running managers.
The expected settlement date for the offering is March 3, subject to customary closing conditions.
Recommended Reading
US Oil, Gas Rig Count Falls to Lowest Since January 2022
2024-05-03 - The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Pemex Reports Lower 2Q Production and Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities
2024-05-02 - With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.