Williams Companies Inc. (WMB) mainly operates through its investments in master limited partnerships—or MLPs—Williams Partners LP (WPZ) and Access Midstream Partners (ACMP) as well as its Williams NGL & Petchem Services unit.
Williams Partners’ primary businesses are:
- Natural gas gathering, treating, and processing
- Oil transportation
- NGL fractionation, storage, and transportation
- Olefins production
Williams Partners’ (WPZ) assets include 13,600 miles of pipelines with a total annual throughput of approximately 3,870 TBtu (trillion British thermal units) of natural gas.
Also under Williams Partners (WPZ) fall the assets of the Transco and North-East pipeline systems.
NGL and Petchem Services and ACMP
Williams’ NGL & Petchem Services segment currently consists primarily of the Canadian midstream business and certain domestic olefins pipeline assets.
ACMP’s operations focus on the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara, Utica shales and the mid-continent region of the U.S. The company operates 6,414 miles of pipelines for an average volume throughput of 3.82 million cubic feet per day.
Key stocks and ETFs
Enterprise Products Partners (EPD) is another company in the midstream energy processing and transportation industry. Some of the companies we discussed here are components of the Energy Select Sector SPDR ETF (XLE) and the Alerian MLP ETF (AMLP).