Midstream giant Williams released their second quarter 2016 financial and operating update on Monday. After the deal by Energy Transfer Partners to buy Williams fell apart, some stockholders in Williams were waiting (agitating) to see what new strategy or direction the company might take. However, the “new” strategy is to keep doing what they’ve always done, according to CEO Alan Armstrong. What do we glean from the Williams 2Q16 update? For one thing, they lost $90 million in the second quarter, versus making $300 million in profit in 2Q15. That’s not so good. However, there are some promising projects on the way for Williams, including the Constitution Pipeline (once the courts slap New York around and force the state allow it), and the Atlantic Sunrise project in PA. Atlantic Sunrise is an expansion of one of the largest interstate pipeline systems in the country–the mighty Transcontinental Gas Pipeline (Transco). Below is the update from Williams, along with links to a transcript of their quarterly earnings phone call with analysts, and a link to their latest PowerPoint slide deck. We’ve also included analysis from Bloomberg on Williams’ “everything old is new again” strategy…
Midstream giant Williams released their second quarter 2016 financial and operating update on Monday. After the deal by Energy Transfer Partners to buy Williams fell apart, some stockholders in Williams were waiting (agitating) to see what new strategy or direction the company might take. However, the “new” strategy is to keep doing what they’ve always done, according to CEO Alan Armstrong. What do we glean from the Williams 2Q16 update? For one thing, they lost $90 million in the second quarter, versus making $300 million in profit in 2Q15. That’s not so good. However, there are some promising projects on the way for Williams, including the Constitution Pipeline (once the courts slap New York around and force the state allow it), and the Atlantic Sunrise project in PA. Atlantic Sunrise is an expansion of one of the largest interstate pipeline systems in the country–the mighty Transcontinental Gas Pipeline (Transco). Below is the update from Williams, along with links to a transcript of their quarterly earnings phone call with analysts, and a link to their latest PowerPoint slide deck. We’ve also included analysis from Bloomberg on Williams’ “everything old is new again” strategy…