|Industry||Oil and Gas|
|Alan S. Armstrong|
|Products||Oil & Natural gas|
Number of employees
The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company,its common stock is a component of the S&P 500.
It was founded as Williams Brothers in 1908 by Miller and David Williams in Fort Smith, Arkansas, and soon expanded to building nationwide pipelines for natural gas and petroleum. The company relocated to Tulsa in 1919. In 1949, John H. Williams, a nephew of the founders, together with his brother Charles Williams and David's son David Williams Jr., bought the business from the founders; John H. Williams remained as president of the company until 1971 and CEO until 1979.
The company went public in 1957 under the Williams Brothers name. As it diversified in the 1970s, it was renamed The Williams Companies, Inc. Since 1997, their brand identity has been simplified to "Williams".
In 1966, Williams bought the then-largest petroleum products pipeline in America, known as the Great Lakes Pipe Line Company, for about $287 million. In 1982, it expanded into natural gas transportation with the purchase of Northwest Energy Company, and extended their reach to the East Coast with the 1995 purchase of Transco Energy Company.
In 2001, Williams acquired Barrett Resources,which provided them with additional national gas reserves.
In 2002, the company found itself in financial distress due to changed market conditions and the large debt of its subsidiary Williams Communications Group. The company obtained and paid off an emergency high interest loan from Warren Buffett to stay out of bankruptcy, and redirected its focus toward natural gas production, processing, and transportation as well as increasing its resource holdings. One of the moves it made around that time (2004) was the sale of two of Canada's largest natural gas straddle plants, and its interest in another to Inter Pipeline Fund for US$540 million.
In 2010, the company underwent a major restructuring that included a reorganization of its extensive pipeline holdings in Williams Partners LP.On October 2010, Williams and Williams Partners L.P. announced that Chairman and Chief Executive Officer Steve Malcolm would retire at the end of the year. The Board of Directors at Williams said it had elected Alan Armstrong to succeed Malcolm as CEO effective January 3, 2011. Armstrong had served as senior vice president of Williams since 2002.
On February 16, 2011, Williams' board of directors had approved pursuing a plan to separate the company's businesses into two stand-alone, publicly traded corporations. The plan calls for Williams to separate its exploration and production business via an initial public offering (IPO) in third-quarter 2011 of up to 20 percent of its interest and, in 2012, a tax-free spinoff to Williams shareholders of its remaining interest. [ needs update ]
The company helped to get the modern telecommunications industry off the ground by running fiber optic cable through its decommissioned pipelines. It built two nationwide networks, which subsequently spun off into separate companies. The first was sold in 1995 to LDDS, which would become WorldCom & then MCI). The second was spun off in 2001 as Williams Communications, filed for bankruptcy the following yearadopted the name WilTel Communications, and ultimately was acquired by and consolidated into Level 3 Communications.
In 2002, Williams Communications Group was sued for that company officials did not properly disclose the failing company's true financial condition, and that officials' public statements belied the firm's plummeting fiscal picture.In 2007, the Williams Companies agreed to pay $290 million.
Boardwalk Pipeline Partners and the Williams Companies were fined $2.4 million for 18 incidents that took place between 2006 and 2013 that include failing to monitor corrosion and waiting to repair a natural gas line showing metal loss in Kentucky.
On March 1, 1999, Jack D. McCarthy, chief financial officer, said the company's additional review and its annual audit process resulted in the previously announced 1998 pre-tax income being adjusted downward by $21.2 million.
On September 16, 2004, Williams Cos. said it amended its fiscal 2003 and first-quarter 2004 filings with the Securities and Exchange Commission to show a reclassification to its discontinued operations and a segment reporting change.
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded in 1985 as a merger between Houston Natural Gas and InterNorth, both relatively small regional companies. Before its bankruptcy on December 3, 2001, Enron employed approximately 29,000 staff and was a major electricity, natural gas, communications and pulp and paper company, with claimed revenues of nearly $101 billion during 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years.
ConocoPhillips is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States. It is the world's largest independent pure-play exploration and production company and the company ranked No. 95 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. ConocoPhillips was created through the merger of American oil companies Conoco and Phillips Petroleum Company on August 30, 2002. In 2012, ConocoPhillips spun off its downstream assets as a new, separate company, Phillips 66.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Loews Corporation is an American conglomerate headquartered in New York City. The company's majority-stake holdings include CNA Financial Corporation, Diamond Offshore Drilling, Boardwalk Pipeline Partners, Loews Hotels and Consolidated Container Company.
Phillips Petroleum Company was an American oil company incorporated in 1917 that expanded into petroleum refining, marketing and transportation, natural gas gathering and the chemicals sectors. It was Phillips Petroleum that first found oil in the North Sea, at a position they called Ekofisk, announced 23.December 1969
Chesapeake Energy Corporation is a company engaged in hydrocarbon exploration. It is headquartered in Oklahoma City. The company is named after the founder's love for the Chesapeake Bay region.
Sonat, Inc., headquartered in Birmingham, Alabama, was a large Fortune 500 American energy holding company. The company was founded in 1928 and was listed on the New York Stock Exchange under the ticker symbol "SNT". Sonat was primarily involved in transmission and marketing natural gas and oil and gas exploration and production. The company was also involved in contract offshore drilling until 1995 when the offshore business became Transocean. In 1999 Sonat merged with El Paso Corporation. The company was headquartered in the AmSouth-Sonat Tower in downtown Birmingham.
Apache Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 438th on the Fortune 500.
ONEOK, Inc. is a diversified Fortune 500 corporation based in Tulsa, Oklahoma. ONEOK was founded in 1906 as Oklahoma Natural Gas Company, but It changed its corporate name to ONEOK in December 1980. It also owns major natural gas liquids (NGL) systems due to the 2005 acquisition of Koch Industries natural gas businesses.
SemGroup transports oil, natural gas and other products across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals. The company began trading on the New York Stock Exchange under the symbol 'SEMG' in 2010. The company was originally founded in 2000 and as of 2007 was the 18th largest private company in the US, but filed for bankruptcy in 2008. As of December 2009, the company had restructured and emerged from bankruptcy at a reduced size. The company's headquarters are in Tulsa, Oklahoma.
The Oklahoma Corporation Commission is the public utilities commission of the U.S state of Oklahoma run by three statewide elected commissioners. Authorized to employ more than 400 employees, it regulates oil and gas drilling, utilities and telephone companies.
Canada's natural gas liquids industry dates back to the discovery of wet natural gas at Turner Valley, Alberta in 1914. The gas was less important than the natural gasoline - "skunk gas" it was called, because of its distinctive odour - that early producers extracted from it. That natural gas liquid (NGL) could be poured directly into an automobile's fuel tank.
Noble Energy, Inc. is a company engaged in hydrocarbon exploration. It is headquartered in Houston, Texas. The company is ranked 583rd on the Fortune 1000.
Pioneer Natural Resources Company is a company engaged in hydrocarbon exploration in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company is the largest acreage holder. The company is organized in Delaware and headquartered in Irving, Texas.
Inter Pipeline Ltd. is a multinational petroleum transportation and infrastructure limited partnership that ranks among North America's leading natural gas and NGL's extraction businesses. It is one of Alberta's top 100 companies in terms of profit (85) and assets (94).
William Grove Skelly, often known as Bill or William G. Skelly, was an entrepreneur who made a fortune in the oil business. Born in Erie, Pennsylvania, he moved to Kansas in 1916, then to Tulsa, Oklahoma, in 1919, where he founded Skelly Oil Company. By 1923, his company was one of the strongest independent producers of oil and gasoline in the United States. He helped organize the first International Petroleum Exposition in Tulsa in 1923 and became president of that organization, a position he held for the rest of his life. He was a founder of the Kansas-Oklahoma branch of the United States Oil and Gas Association, then known as Mid-Continent Oil and Gas Association.
Mastec, Inc. is an American multinational infrastructure engineering and construction company based in Coral Gables, Florida. Limited to the engineering, building, installation, maintenance and upgrade of energy, utility and communications infrastructure, including electrical utility transmission and distribution, power generation, natural gas and petroleum pipelines, wireless, wireline and satellite communications, wind farms, solar farms and other renewable energy, industrial infrastructure and water and sewer systems. Its customers are primarily in the utility, communications and government industries. The company's core services are the engineering, building, installing, maintaining and upgrading of infrastructures.
William K. Warren (1897–1990) founded the Warren Petroleum Corporation of Delaware in 1922. He and his company soon became specialists in the production and marketing of liquefied petroleum gas, a byproduct of petroleum refining and natural gas purification. Warren sold his company to Gulf Oil Corporation in 1953 for $450 million, the largest such merger in the energy industry up to that time. Warren then turned his attention to philanthropy and established the Saint Francis Hospital system in Tulsa.
Laredo Petroleum, Inc. is a company engaged in hydrocarbon exploration organized in Delaware and headquartered in Tulsa, Oklahoma.
WPX Energy, Inc. is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Tulsa, Oklahoma.