Williams Reports First-Quarter 2008 Financial Results- Topic: Oil and Gas News

Consolidated results include segment profit for Williams’ businesses — Exploration & Production, Midstream Gas & Liquids, Gas Pipeline and Gas Marketing Services as well as results reported in the Other segment. Quarterly Average Daily Production 1Q Amounts in million cubic feet 2008 2007 Growth rate equivalent of natural gas (MMcfe) Piceance Basin 607 478 27% Powder River Basin 209 165 27% Other Basins 197 202 -2% U. Midstream, which provides natural gas gathering and processing, NGL fractionation and storage services and olefins production, reported first-quarter 2008 segment profit of $261 million, an increase of 69 percent over first-quarter 2007 segment profit of $154 million. Gas Pipeline, which primarily delivers natural gas to markets along the Eastern Seaboard, in Florida and in the Northwest, reported first-quarter 2008 segment profit of $180 million, compared with $150 million for first-quarter 2007, an increase of 20 percent. read more

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