Williams And Williams Partners Announce 2016 Financing Plan - Quick Facts

(RTTNews) - Williams (WMB) and Williams Partners (WPZ) announced Williams Partners 2016 growth capital funding needs total $2 billion, down approximately $1 billion, or 32 percent, from the partnership's previous plans. The companies said the reduction in 2016 capital and investment expenditures reflects project deferrals, delays and cancellations resulting from the current commodity price environment as well as sharply higher costs of capital. On a GAAP-basis, including consolidated joint ventures, planned growth capital has been reduced by $1.2 billion to $2.1 billion.

Williams Partners announced the board of the partnership's general partner approved a distribution of $0.85, which is payable on February 12, 2016, to common unitholders of record at the close of business on February 5. The distribution is consistent with the prior quarter.