Much needed infrastructure is now in the holding pattern. This pipeline to export for the Asian market.
Gary, wasn't Boardwalk's reduction in quarterly dividend fairly significant? Appears as if Williams and Boardwalk have both taken financial hits. lol I guess it is stay tuned for the next chapter--you know another company with money gets in the mix.
BWP dropped the unit distribution by 81%, which is absolutely crazy. They got clobbered the next day. They still haven't recovered.
Except William's stock has but barely moved. A financial hit maybe, but the stock hasn't moved????
They are extending pipeline deadlines for another year...wonder what will happen to all the ROW contracts that haven't been secured with the upfront bonus payments? I know that after being signed, they have 36 months to begin before the contract is void.
Williams Partners' CEO Discusses Q4 2013 Results - Earnings Call Transcript
I didn't realize there are (3) major pipelines that will compete and carry NGL's from PA, W VA, and OH to the gulf coasts. Williams is also taking gas, Marcellus and Utica to the east coast.
Atex to Texas, 1,230 miles 20" line capacity 125,000 barrels per day can increase to 260 barrels.
Utica EMG KM and Mark West to Gulf Coast, 1,100 miles 24" line 200,000 barrels per day.
Bluegrass Boarwalk and Williams to Louisiana, 1,123 miles 24"line 200,00 NGL's per day phase one and phase two increased to 400,000 per day. Bluegrass has a lot of storage wells and storage facilities down south. All three are using existing pipelines indicating only 30% of new ROW's are needed. This will really speed up the infrastructure process. If you are following the Bluegrass Project, you can read the Williams 4th Qtr Business Conf. Call at their website as it will give you a lot of pertinent information on the Marcellus and Utica Shale plans. I found the
questions and answers at the end of the call very informative. The issues I foresee are with the shippers committing during open season. I don't think there are enough oil and gas companies that would support all three pipeline companies. On the other hand, if a landowner's lease takes out transportation costs, then it would offer a competitive edge for some to get a lower tariff, but these contracts run for 15 years. Somebody for sure knows this is a monster play and going to be around for a long time. This is just my opinion.
Philip, thanks for the link and keeping us posted on the PA well.
up This is just my opinion