Williams reported lower earnings in the first quarter of 2009 compared to the previous year due to dramatically lower energy commodity prices. Adjusted EPS was $0.22, down 61% from $0.57 in the prior year. Average realized prices for U.S. production were 36% lower. Williams is focusing on maintaining a strong balance sheet, reducing costs, and bringing key infrastructure projects online in 2009-2010 to generate stable cash flows.