Reuters: Deals: Williams buying infrastructure in Marcellus shale

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Williams buying infrastructure in Marcellus shale Mar 19th 2012, 20:31 Mon Mar 19, 2012 4:31pm EDT (Reuters) - Williams (WMB.N) struck a $2.5 billion deal to buy a natural gas gathering and processing business in the Marcellus shale, boosting its presence natural gas liquids-rich region. Williams is buying the Caiman Eastern Midstream business, a unit of privately held Caiman Energy, through its master limited partnership Williams Partners LP (WPZ.N). Williams owns 72 percent of Williams Partners, as well as the MLP's general partner. Caiman Energy is backed by private equity investors including EnCap Investments L.P. and Highstar Capital. The midstream unit is located in northern West Virginia, southwestern Pennsylvania and eastern Ohio. The existing physical assets Williams is buying include a gathering system, two processing facilities and a fractionator, the company said. There are also planned expansions to the system currently under construction. Williams Partners is also planning to launch a joint venture with Caiman Energy to develop oil and gas infrastructure in the nearby Utica shale, primarily in Ohio and northwest Pennsylvania.

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