Williams Partners LP (NYSE:WPZ) provided an update on the status of the Lathrop compressor station near Springville in Susquehanna County, Pa., following a flash fire on the morning of March 29. Williams (NYSE:WMB) owns 72% of Williams Partners, including the general-partner interest.
Based on available information, management of Williams Partners and Williams expect the financial impact of the fire to be immaterial to their financial condition, liquidity and, respectively, the distributions and dividends they pay to unitholders and shareholders.
Recent volumes at the Lathrop compressor station equate to approximately 365 million cubic feet of gas per day.
Williams Partners' assessment of damage to the facility is ongoing. Preliminary visual assessment shows that the structure sustained the brunt of the damage, while equipment and flooring inside the structure remain in place.
All employees and contractors at the facility are accounted for and there were no injuries. Emergency shutdown equipment worked properly to isolate and minimize the incident, and emergency procedures were immediately activated.
The cause of the fire is unknown and is under investigation.
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