US Williams completes separation of E&P business

03 January 2012 15:21  [Source: ICIS news]

HOUSTON (ICIS)--Williams has completed the separation of its exploration and production (E&P) business into a stand-alone listed company, the US energy infrastructure and petrochemicals firm said on Tuesday.

Williams’ E&P business, WPX Energy, will begin trading on the New York Stock Exchange under the symbol WPX on Tuesday.

"We've now fully executed on our plans to create two separate and strong companies, each with a clear focus," said Williams’ CEO, Alan Armstrong.

"This effort has been all about unlocking value for shareholders and creating the best possible growth prospects for our businesses,” Armstrong said.

In addition to its core energy infrastructure and natural gas liquids (NGL) business, Williams has olefins plants in the US and Canada.

Tulsa, Oklahoma-based Williams employs at staff of about 4,100 in the US and Canada.

For more on Williams and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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