Williams Cos. ( NYSE: WMB ) said Tuesday it has closed its acquisition of MountainWest Pipelines from Southwest Gas ( NYSE: SWX ) in a deal including $1.07B of cash and $430M of assumed debt, for an enterprise value of $1.5B.
MountainWest comprises ~2K miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling 8B cf/day of transmission capacity; it also operates 56B cf of total storage capacity, including the Clay Basin underground storage reservoir.
Williams ( WMB ) said the acquisition expands its infrastructure network and increases its business mix of FERC-regulated natural gas transmission and storage, while also expanding its services to key Rockies markets not previously served by Williams.
Williams ( WMB ) is a "moat-worthy energy midstream giant with a steady and growing business," and the shares are attractively priced for dividend growth investors, Gen Alpha writes in an analysis published on Seeking Alpha .
For further details see:
Williams closes deal for MountainWest natgas transmission, storage business