On Wednesday, Shares of Williams Companies Inc (NYSE:WMB), subtract -2.20% and closed at $30.29 in the last trading session. The last trading range of the stock ranges between $30.02 and $30.91. Williams Partners L.P. (WPZ) recently declared it has accomplished the execution of a new gas gathering agreement with Total’s U.S. associates (“Total”), the successor to Chesapeake Energy’s (CHK) properties in the Barnett Shale.
The Barnett agreement with Total follows a formerly declared agreement with Chesapeake Energy that provides accelerated upfront cash payments to Williams Partners totaling $754 million ($334 million from Chesapeake and $420 million from Total), in addition to new terms and conditions under which Williams Partners will provide gas gathering services to Total through 2029.
The closing of the new agreement with Total also marks the official termination of Williams Partners’ Barnett Shale gas gathering agreement with Chesapeake Energy. It is expected that Williams Partners’ existing gathering agreement, counting MVC obligations with Total, will remain unchanged through mid-2019.
International Paper Co (NYSE:IP), jumped 0.40% and closed at $47.94 in the last trading session. The last trading range of the stock ranges between $47.81 and $49.08. The company’s Market capitalization is $19.94 Billion with the total Outstanding Shares of 411.21 billion. International Paper (IP) is fighting hunger by partnering with Mid-South Food Bank to address the many hunger needs in the greater Memphis area. Chairman and CEO Mark Sutton, will present a $1.25 million dollar check to Mid-South Food Bank Wednesday, November 16, 2016 as part of the company’s philanthropy strategy. The spouses of International Paper employees will also present a check for $82,000 that will be used to provide 250,000 meals for families in need. “International Paper has the products, the resources and the desire to assist us and we cannot thank them enough,” said Estella Mayhue-Greer, President/CEO, Mid-South Food Bank.
Fighting hunger is a signature cause for the Memphis-based company and this gift will allow Mid-South Food Bank to consolidate three separate warehouses into one, creating efficiencies and noteworthycost savings. Together with the $1.25 million dollars, the company will also donate 250,000 custom corrugated boxes, each capable of carrying 32 pounds of food, or 27 meals. These boxes will assist the Food Bank in delivering 15 million pounds of food annually across 31 counties in the Mid-South. On top of the financial and product donations, the company will also provide safety and equipment experts on-site. These operations experts will assist drive greater warehouse efficiencies and eventually lead to feeding more local citizens in need.