2023-04-20 16:43:40 ET
Williams Cos. ( NYSE: WMB ), MPLX ( MPLX ) and WES DJ Gathering LLC agreed to pay a combined $9.25M in civil penalties over Clean Air Act violations and make improvements at 25 gas processing plants and 91 compressor stations, The U.S. Department of Justice and Environmental Protection Agency said Thursday.
The agencies said the settlements will reduce air pollution and improve air quality in 12 states, including in communities disproportionately impacted by pollution and in Indian Country.
The combined settlements will cut ozone-producing air pollution by an estimated 953 tons/year and greenhouse gases by 50,633 tons/year of carbon dioxide equivalent, including methane, according to the DoJ.
The states of Alabama, Colorado, Louisiana, North Dakota, West Virginia, and Wyoming, and the Southern Ute Indian Tribe, are also settling claims against the companies.
Williams ( WMB ) offers solid upside from current levels, trading at EBITDA multiples below pre-pandemic levels with strong cash flows, Geoffrey Seiler writes in an analysis published recently on Seeking Alpha .
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Williams, MPLX settle with DoJ over air quality violations