Williams Industrial Services Group Inc. and New England-based utility Eversource Energy entered a master service agreement (MSA), according to a press release on Sept. 21.
Effective Sept. 16, 2022, the MSA specifies that Williams will install, maintain, repair and provide additional necessary services regarding natural gas distribution systems for Eversource's natural gas pipeline in Connecticut and other New England locations.
The agreement will span a three-year period with an optional two-year extension, with no other additional terms currently disclosed.
“I’m pleased to announce this multi-year contract with Eversource, an important step forward regarding our strategic decision to enter the critical transmission and distribution market,” Williams president and CEO Tracy Pagliara commented in the release.
Headquartered in Atlanta, Williams will be helping expand the national energy grid under this agreement, Pagliara continued.
Furthermore, the agreement will allow the company to enhance its gross margin profile and overall performance in the next upcoming quarters.
“This area is experiencing dynamic growth through substantial investments to upgrade and expand the national energy grid, funded by the major capital budgets of our utility customers and supplemented by future federal spending from the recently enacted Infrastructure Investment and Jobs Act," Pagliara said.
Recommended Reading
Amplify to Add DJ, Powder River Assets in Merger Agreement with Juniper Capital
2025-01-15 - Amplify Energy Corp. is combining with certain Juniper Capital portfolio companies in a merger agreement that adds 287,000 acres in the Denver-Julesburg and Powder River basins.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
2025-01-15 - Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.
Spartan Delta Ups Bought Deal Financing to $59MM
2025-01-14 - Underwriters have agreed to purchase approximately 22.2 million of Spartan Delta Corp. common shares, for resale to the public, at CA$3.82 per share (US$2.66), the company said.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-14 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
Gigablue Enters CCS Agreement with Investment Firm SkiesFifty
2025-01-14 - Carbon removal company and investment firm SkiesFifty have partnered to sequester 200,000 tons of CO2 over the next four years.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.