Market Overview

Williams Partners and Crestwood Equity Partners Announce Bucking Horse Gas Processing Plant and Infrastructure Expansions in Powder River Basin

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Williams Partners L.P. (NYSE:WPZ) and Crestwood Equity Partners LP
(NYSE:CEQP) today announced a major expansion of the Jackalope Gas
Gathering System ("JGGS") and associated Bucking Horse gas processing
facility in the Powder River Basin ("PRB") Niobrara Shale play that will
increase processing capacity to 345 million cubic feet per day
("MMcf/d") by the end of 2019 to meet growing customer demand in this
underserved growth basin.

As part of the expansion, the current capacity of the Bucking Horse
plant in Converse County, Wyoming, will be increased from 120 MMcf/d to
145 MMcf/d by the end of fourth-quarter 2018. The expansion also
includes plans to add a second plant on the current Bucking Horse
footprint by end of 2019 – adding an additional 200 MMcf/d to JGGS at
the existing competitive fee-rate structure.

The JGGS, which includes the Bucking Horse gas processing plant, is
owned through a 50/50 joint venture between Williams Partners and
Crestwood Equity Partners. The gathering and processing facilities
provide services under a long-term, fee-based agreement with Chesapeake
Energy Corporation ("Chesapeake") that is supported by a 358,000-acre
area of dedication (gross) from Chesapeake. Currently, Chesapeake is
operating five rigs in the Powder River Basin.

As a result of the recent discovery of multiple productive oil-saturated
formations, the Powder River Basin is experiencing a resurgence in
activity as producers increase testing and development activities.
Currently, there are 19 rigs operating in the Powder River Basin
targeting primarily the Turner, Frontier, Mowry, Sussex and Niobrara
formations. This has resulted in an increasing need for wellhead
services and midstream infrastructure in the basin. Based on the
increasing productivity of the Turner and Niobrara formations in the
Powder River Basin and the current level of rig activity within the
joint venture's dedicated acreage, volumes are expected to approach the
full capacity of the expanded Jackalope System by 2021.

"The expansion we're announcing today positions us for additional and
continued growth in a growing basin with strong upstream returns," said
Walter Bennett, senior vice president, Williams' West operating area.
"Our gathering and processing volumes for the JGGS have more than
doubled since the start of 2017; increasing the output of this system
better positions us to meet the upstream development needs of the
Niobrara, which enables us to enhance the midstream services we provide
to Chesapeake – increasing our ability to meet the growing demands of
our customer."

Heath Deneke, Executive Vice President and Chief Operating Officer of
Crestwood, commented, "We are pleased to proceed with the Bucking Horse
plant and Jackalope system expansion to support the exponential volume
growth forecasted in the Powder River Basin. The Williams and Crestwood
joint venture is uniquely positioned to be the leading midstream
provider in the Powder River Basin and our system expansions will
position the joint venture to provide continued exceptional service to
Chesapeake and other producers in the basin."

About Williams Partners

Williams Partners 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 including gathering,
processing and interstate transportation of natural gas and natural gas
liquids. 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 approximately 74 percent of Williams Partners.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE:CEQP) is a
master limited partnership that owns and operates midstream businesses
in multiple unconventional shale resource plays across the United
States. Crestwood is engaged in the gathering, processing, treating,
compression, storage and transportation of natural gas; storage,
transportation, terminalling, and marketing of NGLs; and gathering,
storage, terminalling and marketing of crude oil.

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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