industrialinfo.com - Low Natural Gas Prices Cause Williams' Profits to Tumble

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Low Natural Gas Prices Cause Williams' Profits to Tumble

SUGAR LAND--May 5, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Natural gas producer and transporter Williams Companies Incorporated (NYSE:WMB) recently reported earnings for the first quarter of the 2009 fiscal year. Lower prices of natural gas and natural gas liquids (NGL) helped dramatically reduce the company's net income, which fell from a $500 million profit in 1Q08 to a loss of $172 million in 1Q09. Despite the current low price of natural gas, Williams Companies continues to implement large projects to expand the company's production, processing and transmission operations. Williams' capital expenditure for the whole of 2008 was $3.48 billion, and $484 million in 1Q09. Industrial Info is currently monitoring more than $2.9 billion of Williams Companies projects in the U.S.

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Industry Segment: Production
Word Count: 601 Words

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