Williams Partners Acquires Assets In Colorado’s Piceance Basin

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Williams Partners has completed the acquisition of Williams’ gathering and processing assets in Colorado’s Piceance Basin for $782 million.  The partnership announced the acquisition on Oct. 28, 2010. 
  Williams Partners’ total consideration for the assets was $702 million in cash and $80 million in WPZ limited-partner and general-partner units.
  The assets include the Parachute Plant Complex and three other treating facilities with a combined processing capacity of 1.2 Bcf/d, and a gathering system with approximately 150 miles of pipeline. There are more than 3,300 wells connected to the gathering system, which includes pipelines ranging up to 30-inch trunk lines.
  Williams Partners funded the cash portion of the acquisition with a combination of the proceeds of the $600 million debt offering which was completed earlier in November 2010 and its existing revolving credit facility.