Summit Utilities closes on gas distribution purchase
Summit Utilities, which provides natural gas to commercial and residential customers in six US states, said January 10 it had closed on its $2.2bn purchase of gas distribution assets in Arkansas, Oklahoma and Texas from CenterPoint Energy.
The acquisition, announced in April 2021, expands on its holdings in Arkansas and Oklahoma and builds on its existing gas distribution assets in the Texarkana region of Texas.
The assets included in the transaction serve approximately 525,000 customers in Arkansas, Oklahoma and Texas, and include about 27,300 km (17,000 miles) of mainline gas pipe across the three states. Nearly 600 CenterPoint employees will also join Summit.