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WILLIAMS FIELD SERVICES, UNION PACIFIC RESOURCES TO MAKE JOINT INVESTMENTS IN WYOMING NATURAL GAS FIELD

 TULSA, Okla., Aug. 23 /PRNewswire/ -- Williams Field Services Group and Union Pacific Resources Company will join efforts to develop the potential of the Wamsutter natural gas field in south-central Wyoming, it was announced today.
 The companies are signing agreements that provide for joint ownership of a natural gas processing plant - now under construction - and an existing, 278-mile gathering system in the Wamsutter Field.
 The gathering system is owned by Williams Natural Gas Company, which is seeking Federal Energy Regulatory Commission approval to abandon the system in order to transfer it to Williams Field Services.
 The agreements are subject to approval by the boards of directors of both companies.
 Williams Field Services and Union Pacific also will explore other joint investment opportunities in the Wamsutter area, including but not limited to expansion of the existing gathering system, according to Lloyd Hightower, Williams Field Services president.
 "We are pleased that Union Pacific Resources is joining us in our effort to unleash the exciting potential of this field," Hightower said.
 Union Pacific Resources is one of the largest producers in the Wamsutter Field. Another of the field's major producers, Amoco Production Company, last March signed a long-term agreement providing for Williams Field Services to gather and process its natural gas.
 Under terms of the agreements to be signed this week, Williams Field Services will gather and process Union Pacific's gas production from the Wamsutter area. In addition, Union Pacific will acquire 34 percent of the new processing plant, upgrades to field compression, and gathering system enhancements. The cryogenic processing plant, scheduled to begin operation in early 1994, will have a design capacity of 120 million cubic feet of gas per day.
 Hightower said agreements between Union Pacific Resources and Williams Field Services also will strengthen current efforts to develop a hub, or marketing center, in the Wamsutter Field. The hub would provide producers with a direct connection to several pipelines - and thus different markets - with no rate- stacking, or additional charges.
 Williams Field Services has successfully developed hubs at Opal, Wyoming, and Blanco, New Mexico. The company is one of the quickest growing gatherers and processors of natural gas in the nation. Williams Field Services' daily gathering and processing capacity exceeds 1.7 billion cubic feet of gas.
 Williams Field Services is one of The Williams Companies, Inc. (NYSE: WMB), Tulsa. Williams operates 27,000 miles of pipelines that transport natural gas and petroleum products, major gas gathering and processing facilities, and a national telecommunications company that specializes in serving other carriers and businesses.
 Union Pacific Resources Company, headquartered in Fort Worth, is one of the nation's largest independent exploration and production firms and is the oil and gas subsidiary of Union Pacific Corporation (NYSE: UNP), Bethlehem, Pa.
 -0- 8/23/93
 /CONTACT: Doug Hicks, 918-588-2046, or Victoria Guennewig, both of Union Pacific Resources Company, 817-877-7527/
 (WMB UNP)


CO: Union Pacific Resources Company ST: Oklahoma IN: OIL SU: JVT

TM -- NY069 -- 5233 08/23/93 18:28 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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