Williams to sell Kansas Hugoton natural gas gathering system for $100 million - July 14, 2002

Providing coverage of Alaska and northern Canada's oil and gas industryJuly 2002

Vol. 7, No. 28

Week of July 14, 2002

Williams to sell Kansas Hugoton natural gas gathering system for $100 million

Petroleum News Alaska Staff

Williams said July 3 that it has signed a letter of intent to sell its Kansas Hugoton natural gas gathering system for $100 million in cash to FrontStreet Hugoton LLC, an affiliate of FrontStreet Partners LLC. The sale price will be subject to certain post-closing adjustments. The sale is expected to close by July 31.

Williams said asset sales are part of its overall plan to create a net $8 billion improvement in the company’s finances in the next year. The company said it has already made nearly $5 billion in progress on that plan.

Williams’ Alaska properties were put up for sale in June: the refinery at North Pole, two associated petroleum products terminals, 29 convenience stores, 3 percent interest in the trans-Alaska pipeline system and Anchorage CargoPort ownership

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