Williams Sells JV Stake To Crestwood Affiliate For $485M
Law360 (April 10, 2019, 1:57 PM EDT) -- The Williams Cos. has sold its 50% stake in a Wyoming natural gas joint venture to a Crestwood Equity Partners affiliate for $484.6 million in cash, the companies said Wednesday.
Williams and Houston-based Crestwood, a master limited partnership operating midstream businesses, were each 50% partners in Jackalope Gas Gathering Services LLC, according to a statement from the companies. As a result of the deal, Crestwood has taken over the joint venture's operations, the companies said.
The companies said Wednesday that Williams previously managed construction and operation for the joint venture while Crestwood managed the commercial services. A Williams spokesperson told Law360 in...
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