2024-06-05 23:37:07 ET
Summary
- Williams Companies obtains a permanent injunction against Energy Transfer, preventing Energy Transfer from blocking access to "right-of-way" areas.
- Energy Transfer has a poor record in court cases and may face penalties for frivolous filings (eventually) if the losses keep up.
- Shareholders should be concerned about the increasing number of cases Energy Transfer has lost and the potential for ballooning costs from future losses.
- The Dakota access pipeline dispute is on hold until sometime in 2025.
- Energy Transfer announced the acquisition of WTG Midstream Holdings.
Williams Companies ( WMB ) just received a permanent injunction to stop Energy Transfer ( ET ) from blocking its access to some "right-of-way" areas that Energy Transfer has access to. This is the second court decision to go against the company when it comes to not sharing its "right-of-way" acreage. Common Unit holders need to be concerned as these decisions pile up because enough rulings in one direction should cause a company policy change that makes the rest of the processes moot. Otherwise, the courts may well take additional action that could cost the company a significant amount of money. For that reason, I prefer to watch this situation from the sidelines until I see a material change in the unfolding story....
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Energy Transfer Is Now 0 For 2 With More Cases On The Way