UPDATE/BREAKING: Williams Energy Buys Out UEO Scio Plant

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TULSA – Williams Energy is expanding and have recently bought out the UEO Midstream plant in Scio, which was confirmed in a press release by Senior Communications Specialist, Keith Isbell.

“Williams consolidates 100% interest in Utica East Ohio Midstream (“UEO”) and assumes operatorship,” the press release read. Williams is to receive $1.34 billion in exchange for “for a 35% interest in a combined UEO-Ohio Valley Midstream (“OVM”) joint venture…”

According to Reuters published Monday (March 18) via a press release “Canada Pension Plan Investment Board is expanding its presence in the North American natural gas market through a $3.8 billion joint venture with U.S. energy firm Williams Cos Inc, which will hold pipeline assets in the Marcellus and Utica shale basins, the biggest gas-producing region in the United States.

“Canada’s largest pension fund will invest about $1.34 billion for a 35 percent stake in the venture, with Williams holding the rest and operating the combined business, the companies said on Monday.

“This joint venture will provide CPPIB additional exposure to the attractive North American natural gas market, aligning with our growing focus on energy transition,” said Avik Dey, managing director, head of energy & resources, CPPIB.”

 

More to come.

 

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