Williams Partners Completes the Execution of New Agreements in Barnett Shale

Williams Partners L.P. (NYSE: WPZ) today announced it has completed the
execution of a new gas gathering agreement with Total’s U.S. affiliates
(“Total”), the successor to Chesapeake Energy’s (NYSE: CHK) properties
in the Barnett Shale.

The Barnett agreement with Total follows a previously announced
agreement with Chesapeake Energy that provides accelerated upfront cash
payments to Williams Partners totaling $754 million ($334 million from
Chesapeake and $420 million from Total), as well as new terms and
conditions under which Williams Partners will provide gas gathering
services to Total through 2029.

The closing of the new agreement with Total also marks the official
termination of Williams Partners’ Barnett Shale gas gathering agreement
with Chesapeake Energy. It is expected that Williams Partners’ existing
gathering agreement, including MVC obligations with Total, will remain
unchanged through mid-2019.

About Williams Partners

Williams Partners (NYSE: WPZ) is an industry-leading, large-cap natural
gas infrastructure master limited partnership with a strong growth
outlook and major positions in key U.S. supply basins. Williams Partners
has operations across the natural gas value chain from gathering,
processing and interstate transportation of natural gas and natural gas
liquids to petchem production of ethylene, propylene and other olefins.
Williams Partners owns and operates more than 33,000 miles of pipelines
system wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas. Tulsa, Okla.-based Williams (NYSE: WMB), a
premier provider of large-scale U.S. natural gas infrastructure, owns 60
percent of Williams Partners, including all of the 2 percent
general-partner interest. www.williams.com

Portions of this document may constitute “forward-looking statements”
as defined by federal law. Although the partnership believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Additional
information about issues that could lead to material changes in
performance is contained in the partnership’s annual and quarterly
reports filed with the Securities and Exchange Commission.

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