You probably heard that Williams (NYSE:WMB) will acquire all of the general partner of Access Midstream (UNKNOWN:ACMP.DL), as well as a 50% stake in Access itself. If you look at Access' financials, it's pretty easy to see why Williams -- or just about any large midstream company -- would want a stake in this natural-gas gathering and processing specialist. There is a reason that Williams specifically went after Access, though: the combination of Access' assets and master limited partnership Williams Partners' (NYSE:WPZ) investments in the Marcellus and Utica formations give it a huge competitive advantage in those plays. 

Tune into the video below to find out how the deal will affect the Williams' financials and why combining the assets of Access and Williams in the Marcellus and Utica will be so powerful for the merged company.