Spire Inc. Acquires Piedmont Natural Gas Tennessee Business From Duke Energy for $2.48 Billion

I Squared Capital Acquires Spire Natural Gas Storage Businesses for $650 Million

June 30, 2026

Energy

Spire Inc. has completed the sale of its natural gas storage businesses in Wyoming and Oklahoma (“Spire Storage”) to I Squared Capital for $650 million. The sold assets will be rolled into I Squared’s portfolio company, Bear River Midstream LLC, with proceeds used to support Spire’s ongoing strategic focus and funding of its previously acquired Piedmont Natural Gas Tennessee business.

Delta Utilities Acquires Spire Mississippi for $75 Million

April 22, 2026

Utilities

Spire Inc. agreed to sell its Mississippi local natural gas distribution company, Spire Mississippi, to Delta Utilities for $75 million in cash. The deal will refine Spire’s geographic footprint, while Delta—backed by Bernhard Capital Partners—expands its Mississippi presence with expected operating efficiencies and enhanced emergency response capabilities.

Boardwalk Pipelines Acquires Spire Marketing for $215 Million

March 30, 2026

Energy

Boardwalk Pipelines, LP agreed to acquire Spire Marketing Inc., Spire Inc.'s gas marketing business, for $215 million in cash. The transaction was completed on April 30, 2026, with Spire Marketing rebranded to Boardwalk Continuum Marketing, LLC.

Enbridge Acquires Public Service Company of North Carolina (PSNC) from Dominion Energy

October 1, 2024

Utilities

Enbridge Inc. has completed the acquisition of Public Service Company of North Carolina, Incorporated (PSNC) from Dominion Energy. PSNC — a regulated single-state natural gas utility serving over 600,000 customers with more than 13,000 miles of pipeline — will operate as Enbridge Gas North Carolina and join Enbridge's Gas Distribution and Storage business unit.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.

DTE Midstream Acquires Haynesville Gathering System and 36" Pipeline from Momentum Midstream and Indigo Natural Resources

October 22, 2019

Oil & Gas

DTE Midstream (a unit of DTE Energy) agreed to acquire a gathering system and a 150-mile, 36" gathering pipeline in the Haynesville shale from Momentum Midstream and Indigo Natural Resources for $2.25 billion in cash plus a $400 million milestone payment. The assets include an existing 1.2 Bcf/d gathering system (expandable to 2 Bcf/d) and a pipeline under construction; both assets are supported by long-term contracts and provide DTE enhanced access to Gulf Coast and Louisiana gas markets. The transaction was approved by DTE's board, expected to close in Q4 2019, and was reported as officially closed on December 4, 2019.