Williams Reports Impressive Fourth Quarter Performance

On Feb. 15, The Williams Companies, Inc. released its fourth quarter and total year performance for 2016.

The Tulsa, Okla.-based company reported an unaudited net loss of $15 million for 4Q16, a $700 million improvement from a 4Q15 net loss of $715 million. For the entire year, Williams reported an unaudited net loss of $424 million, a $147 million improvement over 2015’s net loss of $571 million.

Cash flow from operations for the year came in at $3.66 billion, up from the previous year’s figure of $2.68 billion. Much of the increase in cash flows for the year can be attributed to the fourth quarter’s impressive performance, which saw cash flows of $1.58 billion, up $990 million from $592 million in the fourth quarter of 2015.

“We realized strong cash flows from operations in 2016,” said Williams’ president and CEO Alan Armstrong. “Our well-positioned natural gas infrastructure assets enabled us to once again organically grow fee-based revenues while our disciplined approach drove lower expenses even as we brought new assets online.”

Williams subsidiary, Williams Partners, managed to turn a profit for both the 4Q16 and the year as a whole. The subsidiary reported an unaudited net income of $145 million for 4Q16, a significant improvement from the firm’s net loss of $1.64 billion for 4Q15. For the entire year, the firm reported net income of $431 million, up $1.88 billion from 2015’s net loss of $1.45 billion.    

“In January, we took steps to strengthen our financial position and lower our cost of capital to match up with our peer-leading, high-quality, low-risk growth portfolio,” Armstrong said. “As a result, Williams and Williams Partners are positioned for long-term, sustainable growth.”

Author Profile
Digital Content Manager
3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

Related posts

Subscribe to OILMAN TodayDelivered to your inbox

Subscribe to OILMAN Today, a biweekly newsletter delivered to your inbox covering oil and gas business news, current events and industry information you need to know about.