Williams to buy Momentum Midstream in deal worth up to $5.5bn

US-based earthy state institution Williams has agreed to acquisition Momentum Midstream (M6 Midstream) from EnCap Flatrock Midstream successful a woody worthy up to $5.5bn.

The transaction includes $3.5bn successful currency and indebtedness information and astir $2bn successful Williams equity. Completion of the acquisition is taxable to regulatory reappraisal and modular closing conditions.

Momentum Midstream, headquartered successful Houston, Texas, operates much than 4,000 miles of earthy gas-gathering and transmission pipelines.

The web serves much than 1 cardinal dedicated acres and supplies state to captious Gulf Coast locations including the Bethel, Carthage and Silsbee hubs successful eastbound Texas and the Gillis hub successful south-west Louisiana.

Its strategy has a capableness of astir six cardinal cubic feet per time (bcf/d), serving much than 140 customers including concern end-users, powerfulness plants, metropolis gates and liquefied earthy state facilities.

Momentum Midstream's contiguous owner, EnCap Flatrock Midstream, is simply a backstage equity steadfast founded successful 2008 by Flatrock Energy Advisors and EnCap Investments.

In precocious 2022, Momentum Midstream acquired 2 gas-gathering and transmission assets successful the Haynesville Shale. The institution besides made a last concern determination during that clip connected the New Generation Gas Gathering (NG3) project.

The NG3 pipeline runs 255 miles, offering 1.75bcf/d of state deliverability to Gillis, Louisiana. It besides features a c seizure and sequestration programme intended to grip up to 1.8 cardinal tonnes of CO₂ annually.

In April 2025, Momentum Midstream closed its acquisition of Clearfork Midstream to alteration into a wellhead-to-market earthy state midstream platform.

Momentum Midstream CEO Frank Tsuru said: "In 2022, we acceptable retired with a strategy to physique a premier earthy gas-gathering and transmission strategy to service increasing request on the Gulf Coast, and due to the fact that of the efforts of our unthinkable team, we person done conscionable that.

"This merchantability validates our thesis that request for US hydrocarbons domestically and overseas volition proceed to turn and assets similar what we person built astatine M6 are captious to conscionable that need."

Barclays and Jefferies acted arsenic exclusive fiscal advisers to Momentum Midstream, portion Kirkland & Ellis provided ineligible counsel. Willkie Farr & Gallagher served arsenic ineligible counsel to EnCap Flatrock.

Meanwhile, Williams reported unaudited fiscal results for the 3 and six months ended 30 June 2026. The institution posted mostly accepted accounting principles nett income of $827m, oregon $0.68 per diluted share, an summation of 51% compared with the aforesaid 4th successful 2025.