Williams Slices Planned Investments by One-Third

March 2016, Vol. 243, No. 3

Williams Cos. said its Williams Partners affiliate cut its planned investment expenditures by about one third from previous estimates to $2.1 billion amid tough energy market conditions.

Shares of Williams have erased over half their value in the past 12 months. The company said the move is a result of project deferrals, delays and cancellations brought on by the current commodity price environment and sharply higher capital costs. CEO Alan Armstrong said the company remains focused on demand-driven projects serving long-term distribution needs.

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