EPCOR USA Inc. completed the sale of its Texas gas utility and transmission business near Houston. (Source: Shutterstock.com)
EPCOR USA Inc. completed the sale of its Texas gas utility and transmission business to a subsidiary of Northwest Natural Holding Co.
Northwest Natural subsidiary SiEnergy Operating paid $60 million to acquire 100% of the capital stock of Hughes Gas Resources. The deal was first announced in August.
Hughes Gas Resources serves 6,900 connections in 12 communities northeast of Houston. The business is expected to have a rate base of $46 million by year-end 2025.
“Hughes is a great fit for us and a logical step as we expand our Texas utilities,” said Justin B. Palfreyman, president and CEO of Northwest Natural Holdings.
Hughes is expected to be rebranded to Pines Holdings Inc. following closing.
Portland, Oregon-based Northwest Natural Holdings owns Northwest Gas Co., NW Natural Water Co., NW Natural Renewables Holdings and other energy-related interests.
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EPCOR Sells Texas Gas, Transmission Business North of Houston
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