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SiEnergy acquires EPCOR’s Texas gas business for $60mn

US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.

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SiEnergy Operating, a subsidiary of Northwest Natural Holding Company, announced on May 5 that it has entered into a definitive agreement to acquire 100% of the capital stock of Hughes Gas Resources Inc., operating as EPCOR Texas Gas, for $60mn. The transaction is expected to close in the second quarter of 2025, pending regulatory approval.

Targeted expansion around Houston

The acquired assets include approximately 6,900 metered connections and 353 miles (around 568 km) of pipeline serving 12 communities northeast of Houston. The acquired portfolio is expected to have a rate base of $46mn by the end of 2025, according to company statements.

Hughes Gas Resources, operated by EPCOR USA Inc. since 2017, has grown organically by developing infrastructure in high-growth residential and commercial areas around Houston. SiEnergy, already active in the area, is thus reinforcing its local presence while continuing to diversify its operations in the state of Texas.

Strategic refocus for EPCOR

The deal represents a strategic shift for EPCOR USA Inc., a subsidiary of EPCOR Utilities Inc., which is partially exiting the natural gas market in Texas to focus its investment strategy on water. “This decision reflects our intention to grow our water business in the United States,” said John Elford, President and CEO of EPCOR Utilities Inc.

According to Joe Gysel, Senior Vice President of North American Commercial Services at EPCOR, the transition to SiEnergy follows a continuity approach for customers. He noted that clients would benefit from SiEnergy’s operational strength and broad presence in the natural gas sector.

A seamless operational transition

SiEnergy stated that all operational teams and customers of Hughes Gas Resources will be integrated into its structure without any disruption of service. SiEnergy President June Dively said the company shares common safety and reliability standards with EPCOR.

This acquisition takes place in a context of continued consolidation among regional utility services in the United States, with operators aiming to strengthen operational efficiency and enhance their position in markets experiencing strong demographic growth.

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