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MI - Williams reduces capex as NE producers get nervous - May 2019
The Williams Companies reduced its 2019 growth capex guidance to $2.3-2.5 billion from $2.7-2.9 billion on forecasts of weakening activity this year and beyond from gathering and processing customers in the Northeast. The Tulsa-based company reported Q1 net income that was higher but revenue that was lower year over year. Williams still expects Northeast G&P volumes to increase 15% this year, but CEO Alan Armstrong said some E&P customers are already worrying about gas and NGL price forecasts in the coming years. “A few producer customers have focused on......
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