Williams energy marketing and trading company
The Williams Companies, Inc. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. It was founded as Williams Brothers in by Miller and David Williams in Fort Smith, Arkansasand soon expanded to building nationwide pipelines for natural gas and petroleum. The company relocated to Tulsa in InJohn H. Williams remained as president of the company until and CEO until The company went public in under the Williams Brothers name. As it diversified in the s, it was renamed The Williams Companies, Inc.
Sincetheir brand identity has been simplified to "Williams". Init expanded into natural gas transportation with the purchase of Northwest Energy Companyand extended their reach to the Williams energy marketing and trading company Coast with the purchase of Transco Energy Company. InWilliams acquired Barrett Resources which provided them with additional national gas reserves. Inthe company found itself in financial distress due to changed market conditions and the large debt of its subsidiary Williams Communications Group.
The company obtained and paid off an emergency high interest loan from Warren Buffett to stay out of bankruptcyand redirected its focus toward natural gas production, processing, and transportation as well as increasing its resource holdings.
Inthe company underwent a major restructuring that included a reorganization of its extensive pipeline holdings in Williams Partners LP. Armstrong had served as senior vice president of Williams since On February 16,Williams' board of directors had approved pursuing a plan to separate the company's williams energy marketing and trading company into two stand-alone, publicly traded corporations.
The plan calls for Williams to separate its exploration and production business via an initial public offering IPO in third-quarter of up to 20 percent of its interest and, ina tax-free spinoff to Williams shareholders of its remaining interest. The company helped to get the modern telecommunications industry off the ground by running fiber optic cable through its decommissioned pipelines.
It built two nationwide networks, which subsequently spun off into separate companies. The second was spun off in as Williams Communications, filed for bankruptcy the following year  adopted the name WilTel Communications, and ultimately was acquired by and consolidated into Level 3 Communications. InWilliams Communications Group was sued for that company officials did not properly disclose the failing company's true financial condition, and that officials' public statements belied the firm's plummeting fiscal picture.
On March 1,Jack D. On September 16,Williams Cos. From Wikipedia, the free encyclopedia. David Williams Miller Williams. Malcolm gets praise for company turnaround". Retrieved 7 January Retrieved 23 January Business data for Williams Companies: Tulsa-based Corporations within the Tulsa metropolitan area. List of companies based in Tulsa, Oklahoma. Retrieved from " https: All articles with dead external links Articles with dead external links from September Subscription required using via Pages containing links to subscription-only williams energy marketing and trading company Wikipedia articles in need of updating from May All Williams energy marketing and trading company articles in need of updating.
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