Williams Partners, the pipeline and processing subsidiary of energy giant Williams, released their third quarter financial update yesterday. Like many of the other energy companies with operations in the Marcellus and Utica Shale, Williams Partners did not have a good 3Q12 from a financial perspective. Net income for 3Q12 was $237 million, down from $342 in 3Q11 (31%). Why was 3Q12 tough for Williams and other energy companies? Low commodity prices for natural gas and natural gas liquids.
Relevant sections from the Williams announcement yesterday: