Williams Companies Inc. (stock ticker: WMB) will enter into a joint venture in the Delaware Basin with privately-held Texas-based midstream services company Brazos Midstream.

Brazos Midstream will have an 85% majority position in the joint venture. Its current assets include:

Approximately 725 miles of pipeline for natural gas gathering
Approximately 75 miles of pipeline for crude oil gathering
Combined capacity of 75,000 BBLS between 2 crude oil storage terminals, shown on the map below

Brazos has approximately 260 MMCF/D of natural gas processing capacity. 200 MMCF/D comes from it Comanche II cryogenic processing plant, and 60 MMCF/D comes from its Comanche I plant, also shown on the map.

Total capacity will be 460 MMC...

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