Williams completes two more asset sales for $55 million

Petroleum News Houston staff

Williams has closed two transactions in the company's exploration and production and midstream businesses totaling $55 million, the company said June 30.

They include the previously announced sale of natural gas exploration and production properties in the Denver-Julesberg basin in northeastern Colorado for $28 million to Petroleum Development, Williams said.

A new sale involves Williams' 45 percent ownership interest in the 223-mile Rio Grande Pipeline that transports natural gas liquids from Hobbs, N.M., to Ciudad Juarez, Chihuahua. Navajo Southern Inc., a wholly owned subsidiary of Holly Corp., purchased Williams' interest for $27.5 million, subject to closing adjustments.

Including the Denver-Julesberg properties and the Rio Grande interest, Williams has received nearly $2.75 billion cash from asset sales that have been closed this year.