(RTTNews) - EnCap Flatrock Midstream said Monday that it has agreed to sell Momentum Midstream to Williams Companies, Inc. (WMB) in a transaction valued at up to $5.5 billion.
The transaction consideration includes $3.5 billion in cash and debt consideration, along with about $2.0 billion in Williams equity. The deal is subject to regulatory approvals and customary closing conditions.
Houston-based Momentum Midstream operates more than 4,000 miles of natural gas gathering and transmission pipelines across the Gulf Coast, supported by more than one million dedicated acres. The system has approximately 6 billion cubic feet per day (Bcf/d) of capacity serving more than 140 customers, including industrial users, power plants, city gates and LNG facilities.
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