---
title: "The Senator Who Sold Up to $25 Million of Williams Companies Stock Now Wants to Speed Its Pipelines"
description: "Alan Armstrong reported selling up to $25 million of Williams Companies stock three months into his appointed Senate term, and he is now pushing the permitting fight that decides how fast pipelines and power lines get built. The company he ran is spending $5.5 billion on the same demand, and a search of coverage through October 16 found no report connecting the two."
publisher: "The Inference"
section: "Policy"
published: 2026-10-16T23:14:32.728Z
modified: 2026-10-16T23:14:32.728Z
canonical: https://theinference.org/article/the-senator-who-sold-up-to-25-million-of-williams-companies-stock-now-wants-to-speed-its-pipelines
language: en
keywords: "Williams Companies, Alan Armstrong, Permitting, Data Centers, Natural Gas"
---

# The Senator Who Sold Up to $25 Million of Williams Companies Stock Now Wants to Speed Its Pipelines

> Alan Armstrong reported selling up to $25 million of Williams Companies stock three months into his appointed Senate term, and he is now pushing the permitting fight that decides how fast pipelines and power lines get built. The company he ran is spending $5.5 billion on the same demand, and a search of coverage through October 16 found no report connecting the two.

On June 24, 2026, three months after Governor Kevin Stitt sent him to Washington, Senator Alan Armstrong [reported selling up to $25 million of stock](https://www.quiverquant.com/news/Williams+Companies+slides+as+investors+weigh+broader+midstream+weakness+and+recent+financing+moves) in [Williams Companies](https://theinference.org/markets/companies/williams-companies), the Tulsa pipeline company he ran for more than a decade [1][2]. A search of coverage through October 16 found no outlet reporting the trade. It dwarfs everything [Williams](https://www.williams.com/2026/08/03/williams-delivers-strong-second-quarter-2026-results-announces-strategic-acquisition-of-momentum-midstream-connecting-haynesville-to-gulf-coast-lng-and-power-demand/) insiders filed over the same six months: twelve sales, zero purchases, roughly $6.7 million combined [1].

*Chart: **The senator's disclosed Williams sale dwarfs six months of insider selling** Bar chart of disclosed Williams stock sale proceeds by seller over six months: Senator Alan Armstrong up to $25 million (est., disclosure ceiling), CFO John Dean Porter $3.8 million, General Counsel Terrance Wilson $1.8 million, COO Larry Larsen $0.9 million, SVP Glen Jasek $0.2 million.*

*Disclosed sale proceeds, US dollars in millions, past six months. Armstrong's bar is the reported ceiling of his congressional disclosure for the sale dated June 24, 2026; insider bars are estimated proceeds from the same trackers. Congressional and insider trading trackers as of October 15, 2026. [1]*

## The senator says data centers are the scapegoat

Armstrong [told Newsweek, in an interview published October 15](https://www.msn.com/en-us/news/other/gop-senator-says-data-centers-are-a-scapegoat-for-high-energy-prices/ar-AA2ejH1x), that data centers "have kind of become the scapegoat on high energy prices," and that under his proposal large new power users would pay "not only their fair share, but actually a little bit more than their fair share for power" [3].

The Senate permitting bill now moving is the Bipartisan American Affordability and Jobs Act of 2026, [a 417-page overhaul of environmental and permitting law](https://www.smartcitiesdive.com/news/what-the-senate-permitting-bill-means-for-local-infrastructure-projects/832493/) that would accelerate energy projects and require data centers to cover their share of transmission costs [4]. The record does not show Armstrong as its author or sponsor. He wants to hold his appointed seat through January to finish work on [permitting reform](https://theinference.org/article/ai-s-750-billion-buildout-now-waits-on-a-virginia-county-board) [5].

## The company he left bet $5.5 billion on the same demand

Williams, whose own materials say its system moves about a third of US natural gas [6], [closed its $5.5 billion purchase of Momentum Midstream in September](https://www.msn.com/en-us/money/mergers-and-acquisitions/williams-closes-5-5bn-momentum-deal-to-expand-haynesville-footprint/ar-AA2bzdAD) and became the largest gas gatherer in the Haynesville Shale, the Louisiana and East Texas gas field [7][8]. Haynesville deals have reached $7.8 billion in 2026, ahead of the Permian Basin, the West Texas oil field, at $7.4 billion [8].

Chad Zamarin, Williams' president and chief executive, said the completed deal established "a premier Haynesville position" serving liquefied natural gas and power demand along the Gulf Coast [8]. Williams' own releases name Zamarin in the top executive job [6][7], confirming Armstrong has left the company [3].

Williams [sold $2.75 billion of notes on September 8](https://investor.williams.com/news-releases/news-release-details/williams-prices-275-billion-senior-notes-0) to repay commercial paper, the short-term corporate IOUs large companies sell, and fund capital spending [9]. The bill would speed exactly the kind of pipelines and gas plants Williams is building to feed liquefied natural gas exports and data-center power demand [4][6].

*Chart: **Capital spending has almost tripled from its 2024 low, and free cash flow has dipped below zero** Column chart of Williams Companies quarterly capital spending and free cash flow, Q3 2023 to Q2 2026, in billions of dollars. Capex climbs from about $0.7 billion in late 2023 to peaks of $2.0 billion in Q4 2025 and $1.9 billion in Q2 2026, while free cash flow turns negative, about minus $0.4 billion in Q4 2025 and minus $0.5 billion in Q2 2026.*

*Williams Companies capital expenditure and free cash flow by calendar quarter, US dollars in billions, from the company's SEC filings. Third-quarter 2026 results are due November 2. [14]*

## A disclosed sale, an unverified $2.8 million claim

[A post on X](https://x.com/TheCalvinCooli1/status/2110124990624362992) claims Williams' board preserved $2.8 million of stock for Armstrong so he "would not be financially penalized for his public service" [11]. The report behind that claim could not be located and no independent source carries it, so it stands flagged as unverified.

Nothing in the record shows his holdings shaped a vote, and the sale appears in the congressional disclosures the law requires [1]. Armstrong told Newsweek he does not intend to return to Williams [3].

The bill's opponents name who they expect to benefit: [185 community, labor and climate groups said on October 13](https://biologicaldiversity.org/w/news/press-releases/185-groups-slam-permitting-bills-sweetheart-deal-for-data-centers-2026-10-13/) it is a "back-door deal" for large AI data centers and the fossil fuel infrastructure that would power them [12].

## Two November deadlines decide the next move

Oklahoma votes on November 3, with Republican Representative Kevin Hern favored to win and already fighting Armstrong over who holds the seat for the two months after the results are certified [5][13]. Oklahoma's attorney general has been asked to rule on when the appointed senator's term ends [5].

Williams shares slid 3.6% on October 15 with no fresh company-specific news, as investors weigh leverage after the Momentum deal and the new debt behind it [1][9].

One provision would exempt pipelines in existing rights-of-way from environmental review [12], and Williams' $1.5 billion Delta Access project is an expansion along its existing Transco pipeline corridor [6]. The dates to watch are [the company's third-quarter results on November 2](https://investor.williams.com/news-releases/news-release-details/williams-report-third-quarter-2026-financial-results-nov-2), Oklahoma's vote on November 3, and the permitting fight Armstrong wants to stay in the Senate through January to finish [5][10].

## Takeaway

The $25 million sale was disclosed and no record shows it shaped a vote, but the permitting bill Armstrong is fighting to stay in office to finish would speed the very pipelines his old company is spending billions to build.

## Sources

1. [Quiver Quantitative, "Williams Companies slides as investors weigh broader midstream weakness and recent financing moves," 15 October 2026](https://www.quiverquant.com/news/Williams+Companies+slides+as+investors+weigh+broader+midstream+weakness+and+recent+financing+moves)
2. [Associated Press via MyNorthwest, "Oklahoma's governor picks energy executive Alan Armstrong to fill US Senate seat through end of year," 24 March 2026](https://mynorthwest.com/national/oklahomas-governor-picks-energy-executive-alan-armstrong-to-fill-us-senate-seat-through-end-of-year)
3. [Newsweek, "GOP senator says data centers are a scapegoat for high energy prices," 15 October 2026](https://www.msn.com/en-us/news/other/gop-senator-says-data-centers-are-a-scapegoat-for-high-energy-prices/ar-AA2ejH1x)
4. [Smart Cities Dive, "What the Senate permitting bill means for local infrastructure projects," 8 October 2026](https://www.smartcitiesdive.com/news/what-the-senate-permitting-bill-means-for-local-infrastructure-projects/832493/)
5. [KOSU via Yahoo News, "Republicans fighting over who should hold Oklahoma's U.S. Senate seat after election," 24 September 2026](https://www.yahoo.com/news/politics/articles/republicans-fighting-over-hold-oklahoma-163135461.html)
6. [Williams, "Williams Delivers Strong Second-Quarter 2026 Results; Announces Strategic Acquisition of Momentum Midstream," 3 August 2026 (company-reported figures)](https://www.williams.com/2026/08/03/williams-delivers-strong-second-quarter-2026-results-announces-strategic-acquisition-of-momentum-midstream-connecting-haynesville-to-gulf-coast-lng-and-power-demand/)
7. [GlobalData/Offshore Technology via MSN, "Williams closes $5.5bn Momentum deal to expand Haynesville footprint," 4 September 2026](https://www.msn.com/en-us/money/mergers-and-acquisitions/williams-closes-5-5bn-momentum-deal-to-expand-haynesville-footprint/ar-AA2bzdAD)
8. [The Advocate (nola.com), "Billion dollar changes in the Haynesville Shale, energy prices expected to stay high," October 2026](https://www.nola.com/news/business/big-money-is-moving-into-the-haynesville-shale-in-north-louisiana/article_057acfb4-b287-50f6-8b25-8a1fcb2f40cf.html)
9. [Williams Investor Relations, "Williams Prices $2.75 Billion of Senior Notes," 8 September 2026](https://investor.williams.com/news-releases/news-release-details/williams-prices-275-billion-senior-notes-0)
10. [Williams Investor Relations, "Williams to Report Third-Quarter 2026 Financial Results on Nov. 2," 13 October 2026](https://investor.williams.com/news-releases/news-release-details/williams-report-third-quarter-2026-financial-results-nov-2)
11. [@TheCalvinCooli1 on X, post claiming Williams' board preserved $2.8 million in stock for Alan Armstrong on his departure for the Senate (unverified), collected 16 October 2026](https://x.com/TheCalvinCooli1/status/2110124990624362992)
12. [Center for Biological Diversity, "185 Groups Slam Permitting Bill's Sweetheart Deal for Data Centers," 13 October 2026](https://biologicaldiversity.org/w/news/press-releases/185-groups-slam-permitting-bills-sweetheart-deal-for-data-centers-2026-10-13/)
13. [News On 6 (Tulsa) via MSN, "Who is running for US Senate in Oklahoma in the 2026 election?", 2 October 2026](https://www.msn.com/en-us/news/politics/who-is-running-for-us-senate-in-oklahoma-in-the-2026-election/ar-AA2drXbI)
14. [Williams Companies, quarterly figures from its SEC filings, retrieved 16 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000107263)


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The Senator Who Sold Up to $25 Million of Williams Companies Stock Now Wants to Speed Its Pipelines — The Inference. Canonical: https://theinference.org/article/the-senator-who-sold-up-to-25-million-of-williams-companies-stock-now-wants-to-speed-its-pipelines