SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 5, 2002
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The Williams Companies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-4174 73-0569878
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
One Williams Center, Tulsa, Oklahoma 74172
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 918/573-2000
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Not Applicable
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(Former name or former address, if changed since last report)
Item 9. Regulation FD Disclosure.
The Williams Companies, Inc. wishes to disclose for Regulation FD
purposes its press release dated September 5, 2002, filed herewith as Exhibit
99.
Pursuant to the requirements of the Securities Exchange Act of 1934,
Williams has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE WILLIAMS COMPANIES, INC.
Date: September 6, 2002 /s/ Suzanne H. Costin
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Name: Suzanne H. Costin
Title: Corporate Secretary
INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99 Copy of Williams' press release dated September 5, 2002.
[WILLIAMS LOGO]
EXHIBIT 99
NEWS RELEASE
NYSE: WMB
DATE: Sept. 5, 2002
CONTACT: Gina Johnson Jay Henderson Richard George
Williams (media relations) Williams (investor relations) Williams (investor relations)
(713) 215-4243 (918) 573-3879 (918) 573-3679
gina.l.johnson@williams.com JAY.HENDERSON@WILLIAMS.COM RICHARD.GEORGE@WILLIAMS.COM
WILLIAMS COMPLETES SALE OF COVE POINT LNG FACILITY
HOUSTON - Williams (NYSE:WMB) announced today that it has completed the
sale of its Cove Point liquefied natural gas facility and 87-mile pipeline to a
subsidiary of Dominion Resources (NYSE:D). The transaction delivered cash
proceeds of $217 million.
The sale also eliminates the need for Williams to fund Cove Point's
capital expenditure requirements of approximately $105 million over the next two
years.
"The Cove Point divestiture brings an immediate infusion of cash and
represents another important step toward improving our financial strength and
flexibility," says Doug Whisenant, president and CEO of Williams' gas pipeline
unit.
Once reactivated, the LNG facility will serve as another supply source
for Williams' 10,500-mile Transco pipeline system that delivers natural gas from
the Gulf Coast to markets in northeastern and southeastern states.
ABOUT WILLIAMS (NYSE: WMB)
Williams moves, manages and markets a variety of energy products, including
natural gas, liquid hydrocarbons, petroleum and electricity. Based in Tulsa,
Okla., Williams' operations span the energy value chain from wellhead to burner
tip. Company information is available at www.williams.com.
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Portions of this document may constitute "forward-looking statements" as defined
by federal law. Although the company believes any such statements are based on
reasonable assumptions, there is no assurance that actual outcomes will not be
materially different. Any such statements are made in reliance on the "safe
harbor" protections provided under the Private Securities Reform Act of 1995.
Additional information about issues that could lead to material changes in
performance is contained in the company's annual reports filed with the
Securities and Exchange Commission.