Tulsa-based Williams Field Services Group recently acquired NorTex Midstream, a fully contracted natural gas pipeline and storage company in north Texas, from an affiliate of Tailwater Capital for $423 million. The assets include 83 miles of natural gas transmission pipelines, 36 Bcf of natural gas storage in Eastland and Jack counties, and Tolar natural gas hub in Hood County that connects Worsham-Steed gas storage facility to pipelines serving the Dallas-Fort Worth market.
According to Williams, the assets are positioned to store Permian Basin gas supply directed toward U.S. Gulf Coast and to serve as critical infrastructure for Texas power grid reliability. Alan Armstrong, CEO, said during winter storms of February 2021 the NorTex pipeline and storage facilities “reliably provided gas to residential customers and electric power plants.”