Williams Partners to get Four Corners stake

By OGJ editors
HOUSTON, Apr. 10 -- Williams Partners LP, Tulsa, plans to acquire a 25.1% interest in parent Williams Cos. Inc.'s Four Corners LLC subsidiary, an integrated gas gathering and processing system.

The $360 million transaction, subject to standard closing conditions, is expected to close during the second quarter.

Assets of the Four Corners system include:

-- A 3,500-mile gas gathering system in the San Juan basin of New Mexico and Colorado with 2 bcfd of capacity.

-- The Ignacio gas processing plant in Colorado and the Kutz and Lybrook gas processing plants in New Mexico. The three plants combined have 760 MMcfd of processing capacity.

-- The Milagro and Esperanza gas treating plants in New Mexico, which are designed to remove carbon dioxide from up to 750 MMcfd of natural gas.

Williams Partners LP gathers, transports, and processes gas and fractionates and stores gas liquids. The general partner is Williams Partners GP LLC.

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