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RBC I Williams has completed the process of separating the company’s businesses into two stand-alone, publicly traded corporations. The separation process was completed with the Dec. 31 distribution of one share of WPX Energy common stock for every three shares of Williams common stock held by Williams shareholders.
Williams, including its assets held through Williams Partners L.P., is now an energy infrastructure company focused on connecting North America’s significant hydrocarbon resource plays to growing markets for natural gas, natural gas liquids (NGLs) and olefins. Williams’ operations span from the deep water Gulf of Mexico to the Canadian oil sands.
“We’ve now fully executed on our plans to create two separate and strong companies, each with a clear focus,” said Alan Armstrong, Williams’ president and chief executive officer. “This effort has been all about unlocking value for shareholders and creating the best possible growth prospects for our businesses.”
Williams’ corporate headquarters is in Tulsa, Okla., and the company has approximately 4,100 employees in the United States and Canada.