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Upon completion of the merger, expected to occur by early 2015, the merged MLP is anticipated to be one of the largest and fastest growing MLPs with expected 2015 adjusted EBITDA of approximately US$ 5 billion, industry-leading 10% to 12% annual limited partner unit distribution growth rate through the 2017 guidance period and with expected strong growth beyond. 

Distribution coverage is expected to be at or above 1.1x or an aggregate of US$ 1.1 billion through the 2017 guidance period. Cash distributions for 2015 are expected to total $3.65 per limited partner unit, up 50% and 30% over ACMP海角吃瓜网檚 2014 and 2015 distribution guidance, respectively. The merged MLP expects to pay a regular cash distribution in the first quarter of 2015 in the amount of $0.85 per unit, up 53% over the ACMP distribution paid in the first quarter of the prior year (assuming that the merger closes before the distribution record date). Full financial guidance for the merged MLP is expected to be announced following completion of the merger.

海角吃瓜网淏oth Access and Williams Partners are experiencing robust growth, and this growth will benefit both our customers and our employees,海角吃瓜网� said ACMP海角吃瓜网檚 Chief Executive Officer Mike Stice. 海角吃瓜网淲e expect customers to benefit from the expanded organisational capability and enhanced national scale that the combined business provides. We海角吃瓜网檙e already seeing employees benefit from opportunities for advancement and from the additional benefits of being a member of the larger Williams family.海角吃瓜网�

The merged MLP will feature large-scale positions across three key components of the midstream sector, including natural gas pipelines, gathering and processing and natural gas liquids and petrochemical services.

• Natural Gas 海角吃瓜网 海角吃瓜网� Transco, Northwest and Gulfstream represent the nation's premier interstate pipeline network. Transco is the nation's largest and fastest-growing pipeline system.
• Gathering and Processing 海角吃瓜网� Large-scale positions in growing natural-gas supply areas in major shale and unconventional producing areas, including the Marcellus, Utica, Piceance, Four Corners, Wyoming, Eagle Ford, Haynesville, Barnett, Mid-continent and Niobrara. Additionally, the merged MLP海角吃瓜网檚 business would include oil and natural gas gathering services in the deepwater Gulf of Mexico.
• Natural Gas Liquids and Petrochemical Services 海角吃瓜网� Unique downstream presence on the Gulf Coast and in western Canada provides differentiated long-term growth.

Management changes

In conjunction with today海角吃瓜网檚 merger-agreement announcement, the following management changes are planned:Following the closing of the merger, it is expected that J. Mike Stice will continue in his role as a director of the general partner of the merged MLP. Stice, who currently serves as chief executive officer of the general partner of ACMP, will retire as an officer of the company upon the closing of the merger.

Robert S. Purgason, current chief operating officer of the general partner of ACMP, is expected to join Williams as senior vice president overseeing the ACMP operations. Purgason will report directly to Williams海角吃瓜网� president and chief executive officer Alan Armstrong. When the merger is complete, it is expected that Purgason also will serve the merged MLP as one of its general partner海角吃瓜网檚 senior vice presidents, rather than as its chief operating officer.

David C. Shiels, who currently serves as chief financial officer of the general partner of ACMP will leave the company to pursue other opportunities after the merger closes. He will continue in his current role until the merger is complete.

Upon the closing of the merger, it is expected that Alan Armstrong and Donald Chappel will serve the merged MLP as its general partner海角吃瓜网檚 chief executive officer and chief financial officer, respectively. Chappel currently serves as chief financial officer of Williams and Williams Partners.

海角吃瓜网淚 want to recognise and thank Mike, Bob and Dave, along with the rest of the Access Midstream organisation, for their achievements to build an organisation that has delivered significant value for investors, customers, employees and the communities where they have operations,海角吃瓜网� Armstrong said. 海角吃瓜网淲e look forward to expanding on that value creation as we continue to integrate our organisations and operations.海角吃瓜网�

Adapted from press release by