Summary
Williams Companies, Inc. (WMB) filed an 8-K on May 12, 2009, to announce details for their upcoming Analyst Day on the same date. The primary focus of this filing is to provide investors with updated information regarding the company and its Master Limited Partnerships, Williams Partners L.P. (WPZ) and Williams Pipeline Partners L.P. (WMZ). Key among the disclosures is a significant increase in Williams' total proved, probable, and possible reserves to an estimated 13 trillion cubic feet equivalent (Tcfe), up from a previous estimate of 11.4 Tcfe. The company also indicated that new information, including updates on its Exploration & Production unit's production impact from reduced drilling, well economics in various shale plays, fee-based growth for its Midstream unit, a hedge update, and liquidity position as of May 1, 2009, would be presented during the Analyst Day and made available via webcast and on their corporate website.
Key Highlights
- 1Williams Companies announced an Analyst Day event on May 12, 2009, to present information on WMB, WPZ, and WMZ.
- 2Total proved, probable, and possible reserves were increased to an estimated 13 Tcfe from 11.4 Tcfe.
- 3The Analyst Day presentations will be webcast live and available for replay.
- 4New information to be presented includes E&P production impacts from reduced drilling.
- 5Details on typical well economics for various shale plays (San Juan Mesa Verde, Barnett Shale, etc.) will be discussed.
- 6Fee-based growth initiatives for the Midstream unit will be a topic of discussion.
- 7An updated hedge position as of May 6, 2009, and liquidity as of May 1, 2009, will be disclosed.