Venezuelan Government Seizes Williams Operations
TULSA, Okla.,
After a long period of non-payment by Petroleos de Venezuela S.A. (PdVSA), Williams recently issued notices of default under its services agreements. The seizure of assets and termination of the associated contracts trigger rights to receive payment for the seized assets. The contracts and international law call for international arbitration of any disputes concerning those payments.
In
Williams reported non-cash charges to net income attributable to The Williams Companies, Inc., of approximately
About Williams (NYSE: WMB)
Williams, through its subsidiaries, finds, produces, gathers, processes and transports natural gas. Williams' operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, and Eastern Seaboard. More information is available at http://www.williams.com. Go to http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.
Julie Gentz
Williams (media relations)
(918) 573-3053
Jeff Pounds
Williams (media relations)
(918) 573-3332
Richard George
Williams (investor relations)
(918) 573-3679
Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.
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