Williams, one of the largest pipeline companies in the world, issued its first quarter update yesterday. The company reported 1Q23 net income increased by $547 million to $926 million, up from $379 million in 1Q22 due to unrealized gains (and losses) on commodity derivatives, the benefit of higher service revenues driven by contributions from recent acquisitions, increased volumes at Ohio Valley Midstream, as well as higher commodity marketing margins. CEO and President Alan Armstrong said, “We remain squarely focused on our natural gas-focused strategy.” The Marcellus/Utica plays a big part in the company’s gas-focused strategy.
Williams, one of the largest pipeline companies in the world, issued its first quarter update yesterday. The company reported 1Q23 net income increased by $547 million to $926 million, up from $379 million in 1Q22 due to unrealized gains (and losses) on commodity derivatives, the benefit of higher service revenues driven by contributions from recent acquisitions, increased volumes at Ohio Valley Midstream, as well as higher commodity marketing margins. CEO and President Alan Armstrong said, “We remain squarely focused on our natural gas-focused strategy.” The Marcellus/Utica plays a big part in the company’s gas-focused strategy.