Williams (NYSE: WMB) said Thursday it has completed the $5.5 billion acquisition of Momentum Midstream, securing a major expansion of its natural gas infrastructure in the Haynesville basin along the U.S. Gulf Coast.
The transaction was funded with approximately $3.5 billion in cash and debt and $2 billion in Williams equity. BofA Securities and Truist Securities acted as financial advisors to Williams, while Davis Polk & Wardwell provided legal counsel. The deal closed one day after announcement.
Momentum Midstream brings more than 4,000 miles of pipeline, over 1 million dedicated acres, and processing and treating facilities to Williams’ portfolio. The acquired assets include three take-or-pay pipelines and a gathering capacity of 6 billion cubic feet per day, with transportation capacity of 4.05 billion cubic feet per day. Williams said the deal strengthens its ability to serve growing demand from LNG, power, and industrial customers along the Gulf Coast.
Chad Zamarin, Williams president and chief executive officer, said the acquisition establishes a premier Haynesville position and complements the company’s natural gas-focused strategy. He highlighted Momentum’s durable take-or-pay contracts and high-quality customer base as key benefits. The acquisition also creates opportunities for future expansions, Williams said, alongside two previously announced projects.
Williams operates natural gas infrastructure and delivers roughly one-third of U.S. natural gas supply.
