Williams announced Wednesday it has agreed to sell its 60 travel centers in 15 states to a joint venture of Pilot Corp. and Marathon Ashland Petroleum LLC. The Tulsa, OK-based company said the deal includes $190 million cash, including fuel inventory, merchandise and supplies.

Steve Malcolm, Williams' chairman, president and CEO, said, "We are executing our plan to rebuild our finances. We're continuing to optimize our cash position, reduce debt and focus on core businesses like gas pipelines, natural gas production and midstream services such as gathering and processing."

Sale proceeds will be used to retire $109.2 million of debt associated with the travel centers and for general corporate purposes, the company said.