Exhibit 99.1
 WILLIAMS PARTNERS GP LLC
CONSOLIDATED BALANCE SHEET
(In thousands)
 June 30,
    
    
    December 31,2008
    
    
    2007(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    57,715
    
    
    $
    36,197Accounts receivable:Trade
    
    
    22,042
    
    
    
    12,860Affiliate
    
    
    39,146
    
    
    
    20,402Other
    
    
    7,477
    
    
    
    2,543Product imbalance
    
    
    32,858
    
    
    
    20,660Prepaid expenses
    
    
    4,668
    
    
    
    4,056Derivative assets  affiliate
    
    
    
    
    
    
    231Reimbursable projects
    
    
    416
    
    
    
    8,989Assets held for sale
    
    
    11,296
    
    
    
    11,519Other current assets
    
    
    3,544
    
    
    
    3,574Total current assets
    
    
    179,162
    
    
    
    121,031Investment in Wamsutter
    
    
    294,837
    
    
    
    284,650Investment in Discovery Producer Services
    
    
    204,753
    
    
    
    214,526Property, plant and equipment, net
    
    
    638,964
    
    
    
    630,770Other noncurrent assets
    
    
    29,570
    
    
    
    32,500Total assets
    
    $
    1,347,286
    
    
    $
    1,283,477LIABILITIES AND OWNERS EQUITYCurrent liabilities:Accounts payable:Trade
    
    $
    34,905
    
    
    $
    35,948Affiliate
    
    
    31,657
    
    
    
    14,011Product imbalance
    
    
    20,142
    
    
    
    21,473Deferred revenue
    
    
    11,125
    
    
    
    4,569Derivative liabilities  affiliate
    
    
    11,978
    
    
    
    2,718Accrued interest
    
    
    19,101
    
    
    
    19,500Other accrued liabilities
    
    
    6,982
    
    
    
    8,243Total current liabilities
    
    
    135,890
    
    
    
    106,462Long-term debt
    
    
    1,000,000
    
    
    
    1,000,000Other noncurrent liabilities
    
    
    11,818
    
    
    
    11,864Minority interest
    
    
    148,781
    
    
    
    1,318,992Commitments and contingent liabilities (Note 8)Owners equity:Owners equity
    
    
    1,003,153
    
    
    
    (253,686
    )Notes receivable  affiliate
    
    
    (949,622
    )
    
    
    (899,594
    )Accumulated other comprehensive loss
    
    
    (2,734
    )
    
    
    (561
    )Total owners equity
    
    
    50,797
    
    
    
    (1,153,841
    )Total liabilities and owners equity
    
    $
    1,347,286
    
    
    $
    1,283,477
  1




---



##### 



WILLIAMS PARTNERS GP LLC
NOTES TO CONSOLIDATED BALANCE SHEET
(Unaudited)
 Note 1. Organization and Basis of Presentation
     Note 2. Recent Accounting Standards
  
 2




---



##### 



Note 3. Assets Held for Sale
  Note 4. Equity Investments
 Wamsutter
  June 30,
    
    
    December 31,2008
    
    
    2007(Unaudited)Current assets
    
    $
    30,104
    
    
    $
    27,114Property, plant and equipment, net
    
    
    275,820
    
    
    
    275,163Non-current assets
    
    
    157
    
    
    
    191Current liabilities
    
    
    (10,823
    )
    
    
    (13,016
    )Non-current liabilities
    
    
    (3,015
    )
    
    
    (2,740
    )Members capital
    
    $
    292,243
    
    
    $
    286,712
 Discovery Producer Services
  June 30,
    
    
    December 31,2008
    
    
    2007(Unaudited)Current assets
    
    $
    75,832
    
    
    $
    78,035Non-current restricted cash and cash equivalents
    
    
    3,658
    
    
    
    6,222Property, plant and equipment, net
    
    
    357,963
    
    
    
    368,228Current liabilities
    
    
    (32,988
    )
    
    
    (33,820
    )Non-current liabilities
    
    
    (12,704
    )
    
    
    (12,216
    )Members capital
    
    $
    391,761
    
    
    $
    406,449
 3




---



##### 



Note 5. Long-Term Debt and Credit Facilities
 Long-Term Debt
  Interest
    
    
    June 30,
    
    
    December 31,Rate
    
    
    2008
    
    
    2007(In millions)Credit agreement term loan, adjustable rate, due 2012
    
    
    (a
    )
    
    $
    250
    
    
    $
    250Senior unsecured notes, fixed rate, due 2017
    
    
    7.25
    %
    
    
    600
    
    
    
    600Senior unsecured notes, fixed rate, due 2011
    
    
    7.50
    %
    
    
    150
    
    
    
    150Total Long-term debt
    
    
    
    
    
    $
    1,000
    
    
    $
    1,000
 
 (a)
    
    3.225% at June 30, 2008. Credit Facilities
   Note 6. Owners Equity
  Note 7. Fair Value Measurements
 Adoption of SFAS No. 157
  4




---



##### 




    
    Level 1  Quoted prices in active markets for identical assets or liabilities that we
have the ability to access. Active markets are those in which transactions for the asset or
liability occur in sufficient frequency and volume to provide pricing information on an
ongoing basis.
    
    Level 2  Inputs are other than quoted prices in active markets included in Level 1,
that are either directly or indirectly observable. These inputs are either directly
observable in the marketplace or indirectly observable through corroboration with market
data for substantially the full contractual term of the asset or liability being measured.
    
    Level 3  Includes inputs that are not observable for which there is little, if any,
market activity for the asset or liability being measured. These inputs reflect
managements best estimate of the assumptions market participants would use in determining
fair value. Our Level 3 consists of instruments valued using valuation methods that utilize
unobservable pricing inputs that are significant to the overall fair value.
     Level 3 Fair Value Measurements Using Significant Unobservable Inputs
Six Months Ended June 30, 2008
(In thousands)
 Net DerivativeAsset (Liability)Balance as of January 1, 2008
    
    $
    (2,487
    )Realized and unrealized gains (losses):Included in net income
    
    
    (357
    )Included in other comprehensive income
    
    
    (10,373
    )Purchases, issuances, and settlements
    
    
    1,239Transfers in/(out) of Level 3
    
    
    Balance as of June 30, 2008
    
    $
    (11,978
    )
 5




---



##### 



Note 8. Commitments and Contingencies
 Environmental Matters-Four Corners.
       Environmental Matters-Conway.
  6




---



##### 



Will Price.
 Grynberg.
 GE Litigation.
 Other.
 Summary.
 7