Pipeline company Williams said on Monday that it will acquire Momentum Midstream to bet on the growing demand of US Gulf Coast liquefied natural gas export facilities, power generation and industrial users. The deal, which includes approximately $3.5 billion in cash and underwritten debt, and approximately $2 billion in Williams shares, will expand Williams's business footprint in the Hinesville Shale Basin — an important gas supply source for liquefied natural gas terminals along the Gulf Coast. Williams said the deal will add more than 4,000 miles of pipelines, more than 1 million acres of dedicated land, and natural gas collection, processing and transportation assets with a total daily processing capacity of about 6 billion cubic feet. Shares of the Tulsa, Oklahoma-based company rose about 2% in after-hours trading. Affected by increased operating costs and interest expenses, the company's second-quarter adjusted earnings per share of $0.50 were lower than analysts' average estimate of $0.51.

Pipeline company Williams said on Monday that it will acquire Momentum Midstream to bet on the growing demand of US Gulf Coast liquefied natural gas export facilities, power generation and industrial users. The deal, which includes approximately $3.5 billion in cash and underwritten debt, and approximately $2 billion in Williams shares, will expand Williams's business footprint in the Hinesville Shale Basin — an important gas supply source for liquefied natural gas terminals along the Gulf Coast. Williams said the deal will add more than 4,000 miles of pipelines, more than 1 million acres of dedicated land, and natural gas collection, processing and transportation assets with a total daily processing capacity of about 6 billion cubic feet. Shares of the Tulsa, Oklahoma-based company rose about 2% in after-hours trading. Affected by increased operating costs and interest expenses, the company's second-quarter adjusted earnings per share of $0.50 were lower than analysts' average estimate of $0.51.