Williams sells assets for $120 million

Monday, December 22nd 2003, 12:00 am
By: News On 6

(Tulsa-AP) -- Williams Monday has sold its midstream and telecommunications assets for $120-million.

Williams has been selling assets to raise cash and reduce debt

Williams sold its 45-million cubic feet per day Dry Trail natural gas processing plant in the Oklahoma Panhandle to Houston-based Eagle Rock Energy.

The plant purifies and liquefies carbon dioxide produced in Texas County.

Tulsa-based SemGroup LP purchased Williams' wholesale propane assets, which are comprised primarily of seven distribution terminals in Arkansas, Minnesota, Washington state and Wisconsin.

The Tulsa-based company has sold more than $8-billion in assets in two years in its plan to strengthen its balance sheet and refocus business on finding, transporting and processing natural gas.