The natural gas production and transportation hulk clearly wasn't satisfied with just one Appalachian tie-up this month. The midstream joint venture established with Atlas Pipeline Partners
In 2008, Williams' domestic natural gas production came in just shy of the top 10, falling between EOG Resources
To that end, Williams has formed a joint venture with small cap Rex Energy. To earn a 50% interest in the designated leasehold, Williams will carry 90% of Rex's funding obligations, until the former party has invested $33 million on Rex's behalf. This sort of earn-in structure should be familiar to anyone who followed Chesapeake Energy's
At the end of the day, this is a modest commitment of funds by Williams. If the company sees strong results, though, I imagine there will be further Marcellus forays in the firm's future.