Oklahoma business briefs for April 29, 2014

Oklahoma business briefs for April 29, 2014
Oklahoman Published: April 28, 2014
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Oklahoma briefs

Williams suspends investment

The Williams Cos. Inc. has suspended its investment in a planned natural gas liquids pipeline through Kentucky because of low customer interest, the company said Monday. The company continues to talk with potential customers of the Bluegrass Pipeline, which would transport NGLs from the Marcellus and Utica shales to the U.S. Gulf Coast. Williams is a joint venture partner in the proposed pipeline.

Engergy Transfer agrees to deal

Energy Transfer Partners LP has agreed to buy Susser Holdings Corp., an operator of convenience stores and gas stations, in a deal valued at about $1.8 billion. Susser operates 630 Stripes and Sac-N-Pac convenience stores in New Mexico, Oklahoma and Texas. The company said that adding Corpus Christi-based Susser to the more than 5,000 Sunoco stations it bought in 2012 for $5.5 billion will expand Sunoco’s geographic reach. Susser shareholders will choose either $80.25 in cash, 1.4506 Energy Transfer common units, or a combination of both for each share held. The transaction will give Energy Transfer ownership of the general partner interest and incentive distribution rights in Susser Petroleum Partners LP, about 11 million Susser Petroleum common units and Susser Holdings’ retail operations.

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