Williams Cos., Tulsa, has completed separating the company’s businesses into two stand-alone, publicly traded corporations.
The company’s former exploration and production business, WPX Energy Inc., began trading on the New York Stock Exchange on Jan. 3.
The spinoff was completed with the Dec. 31, 2011, distribution of one share of WPX Energy common stock for every three shares of Williams common stock.
Williams became an infrastructure company, and many of its pipeline assets are held through the master limited partnership Williams Partners LP.
In Canada, Williams owns a midstream and domestic olefins production business that processes the off-gas created by the oil sands production into 14,000 b/d of an NGL/olefins mixture. Expansion to the olefins plant is under way and a Canadian NGL pipeline is under construction.
Separately, William also is expanding its Geismar ethylene plant in Louisiana that currently produces 1.35 billion lb/year.
Paula Dittrick | Senior Staff Writer
Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.
Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.
