Williams buys Barnett Shale interests for $147M

Williams Cos. has obtained interests in the Barnett Shale natural gas reserves in north Texas for a lesser amount than previously announced.

Tulsa-based Williams said Tuesday it has completed a $147 million purchase of the interests from Aspect Abundant Shale LP and other parties. In late July, Williams said those interests would cost $166 million.

Williams said the change in the purchase price before the closing of the deal is because the parties are finalizing title work on a small portion of the acquisition package.

The package includes an estimated 175 billion cubic feet equivalent of proved, probable and possible reserves on about 10,000 net acres, primarily in Tarrant, Johnson and Hood counties.

The deal also includes 41 producing wells with a daily net production of about 9 million cubic feet equivalent.

Williams, which operates four rigs in the Barnett Shale, said it plans to add two more during the next six months.

In morning trading, shares slipped $1.43, or 5.2 percent, to $26.07.