Overview
- Williams and private‑equity owner EnCap Flatrock announced a deal on Tuesday for Williams to acquire Momentum Midstream in a transaction valued at up to $5.5 billion.
- The consideration is structured as about $3.5 billion in cash and assumed debt plus roughly $2 billion in Williams common equity rolled into the combined company.
- Momentum operates more than 4,000 miles of gathering and transmission lines with about 6 bcf/d capacity to over 140 customers and has the 255‑mile NG3 pipeline that can deliver 1.75 bcf/d to Gillis, Louisiana, and handle up to 1.8 million tonnes of CO2 a year through a capture program.
- The deal is subject to regulatory review and customary closing conditions, and the parties have named Barclays, Jefferies and law firms to advise on the sale process.
- Williams reported a 51% rise in GAAP net income for Q2 2026, and the company plans related expansions to link more Haynesville supply to Gulf Coast LNG and industrial markets if the acquisition closes.