Spire Inc. sold its Wyoming and Oklahoma natural gas storage businesses to I Squared Capital for $650 million, including $600 million up front and a $50 million FY2027 payment. Proceeds funded part of its March acquisition of Piedmont Natural Gas Tennessee unit, sharpening Spire’s focus on core regulated utility operations.
Spire completed the sale of its natural gas storage businesses in Wyoming and Oklahoma to I Squared Capital on June 30, 2026, for total consideration of $650 million, comprising $600 million in cash at closing and a $50 million fixed deferred payment in fiscal 2027.
Proceeds from the transaction were used to partially fund Spire’s acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026, supporting the company’s strategy to concentrate on its regulated utility operations.
The disposed Spire Storage assets include two fields in southwestern Wyoming certificated for up to 55 Bcf working gas capacity and a north central Oklahoma field authorized for up to 17 Bcf, all transitioning to Bear River Midstream under I Squared Capital.
