National Fuel Gas Company (NYSE: NFG) announced today that it has entered into a definitive agreement to acquire CenterPoint Energy Resources Corp.’s Ohio natural gas utility business for a total consideration of $2.62 billion on a cash‑free, debt‑free basis. The deal will add approximately 5,900 miles of transmission and distribution pipeline and serve about 335,000 metered customers that consume roughly 60 Bcf of natural gas annually.
The transaction values the Ohio business at roughly 1.6× its 2026 rate base of $1.6 billion and represents a strategic expansion of NFG’s regulated operations into a neighboring state with a supportive regulatory environment. By adding Ohio’s utility assets, NFG will effectively double its regulated rate base, enhance its customer base, and create new synergies with its existing pipeline and distribution network in New York and Pennsylvania.
The acquisition is expected to close in the fourth quarter of calendar 2026, pending completion of Hart‑Scott‑Rodino review, a notice filing and review with the Ohio Public Utilities Commission, and other customary closing conditions. Upon closing, the transaction will provide NFG with additional regulated cash flow and a platform for future growth while leveraging its integrated model to support continued investment in upstream and midstream operations.
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