Williams sells assets from its energy trading business

(Tulsa-AP) -- Tulsa-based Williams Companies has announced the sale of more assets from its energy trading business.<br><br>Williams says its selling contracts and inventory to Houston-based Saracen Energy

Tuesday, April 13th 2004, 12:00 am

By: News On 6

(Tulsa-AP) -- Tulsa-based Williams Companies has announced the sale of more assets from its energy trading business.

Williams says its selling contracts and inventory to Houston-based Saracen Energy Partners for about $23-million.

Williams spokesman Brad Church says the company is still looking to sell all or part of its energy trading business.

The energy trading industry collapsed after Enron filed for bankruptcy in 2001. The collapse drained cash from Williams' energy trading business and nearly sent the company into bankruptcy.

Williams has since sold more than a billion dollars of its energy trading assets to reduce debt and concentrate on the natural gas industry.