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Get filing alertsSpire completes $657M sale of gas storage assets to I Squared Capital
Filed June 30, 2026 · Period ending June 30, 2026 · ~1 min read
Key Changes
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Spire sold Wyoming and Oklahoma gas storage subsidiaries (72 Bcf combined capacity) to I Squared Capital for $657M: $607M cash at close, $50M deferred to Sept 2027.
Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR → -
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Proceeds will fund regulated utility operations, capital investments, and debt reduction, including partial funding of the Piedmont Natural Gas Tennessee acquisition closed March 31, 2026.
Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR → -
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Transaction closed after satisfying customary conditions including HSR antitrust clearance; no regulatory obstacles emerged.
Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
Summary
Spire completed the sale of its non-regulated natural gas storage operations in Wyoming and Oklahoma to an I Squared Capital affiliate for $657 million on June 30, 2026. The company received $607 million in cash at closing with an additional $50 million deferred payment due by September 30, 2027.
The divested assets include 55 Bcf of working gas capacity in Wyoming serving western U.S. markets and 17 Bcf in Oklahoma connected to Southern Star Pipeline and Oklahoma Gas Transmission. The transaction represents a strategic pivot from midstream storage to regulated utility operations.
Spire is using the proceeds to support its core regulated natural gas utility business, fund capital investments, reduce debt, and partially finance its earlier acquisition of Piedmont Natural Gas Tennessee, which closed March 31, 2026. The sale streamlines Spire's portfolio around regulated utilities while strengthening its balance sheet. The transaction cleared all regulatory approvals including HSR antitrust review without issue.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Spire announced completion of an unspecified transaction via press release.
Added in current filing · verify on EDGAR →
On June 30, 2026, Spire issued a press release announcing the completion of the Transaction.
Spire disclosed that a transaction (referred to as 'the Transaction') has been completed as of June 30, 2026. The 8-K does not specify what the transaction entails—no counterparty, purchase price, asset description, or business rationale is provided in the body text. The press release attached as Exhibit 99.The Item body is a short pointer; substantive detail is in the attached Exhibit 99 (extracted and available in this report).
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
conditions to the completion of the Transaction, such as receipt of required regulatory clearances, not being satisfied; closing of the Transaction being delayed or not occurring at all; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Agreement; Spire being unable to achieve the anticipated benefits of the Transaction; significant transaction costs associated with the Transaction; the risk that disruptions from the Transaction will harm the businesses, including current plans and operations; the ability to retain and/or hire key personnel; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed Transaction
The filing lists standard transaction-related risks in its forward-looking statement section, including regulatory clearance, termination events, failure to achieve anticipated benefits, significant transaction costs, business disruptions, key personnel retention, and adverse reactions from business relationships. These are boilerplate disclosures accompanying the transaction announcement.
Event · Item 2.01 — Completion of Acquisition or Disposition of Assets
Spire completed sale of storage assets for $657M to I Squared Capital affiliate, with proceeds for utilities, capex, and debt reduction.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Transaction was completed following the satisfaction or waiver of customary closing conditions, including the receipt of required regulatory approvals (including expiration of the applicable waiting period under the HSR Act).
The transaction closed after obtaining all necessary regulatory clearances, including HSR antitrust review. This confirms no regulatory obstacles emerged during the approval process.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Proceeds from the transaction help fund Spire’s previously completed acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026.
Spire used the sale proceeds to partially fund its acquisition of the Piedmont Natural Gas Tennessee business, which closed earlier in the fiscal year on March 31, 2026. This represents a strategic shift from non-regulated storage assets to regulated utility operations.
Added in current filing · view on EDGAR →
In Wyoming, the natural gas storage assets are certificated to provide up to 55 Bcf of working gas capacity to customers primarily in the western United States. In Oklahoma, the storage asset markets in the midcontinent and midwestern United States and is connected to Southern Star Pipeline and Oklahoma Gas Transmission. That facility is authorized to provide up to 17 Bcf of working gas capacity.
The divested storage business includes 55 Bcf of working gas capacity in Wyoming serving western U.S. customers and 17 Bcf in Oklahoma serving midcontinent and midwestern markets. The Oklahoma facility connects to Southern Star Pipeline and Oklahoma Gas Transmission.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify