Spire to sell Wyoming and Oklahoma gas storage assets to I Squared for $650 million
Spire Inc. agreed on April 14, 2026 to sell Belle Butte LLC, which owns the Spire Storage West facility in Wyoming and the Spire Storage Salt Plains facility in Oklahoma, to an affiliate of I Squared Capital. The total consideration is $650 million, including $600 million in cash at closing, and the sale is expected to partly fund Spire's Piedmont Natural Gas Tennessee acquisition. Spire said it will provide revised fiscal 2026 guidance in May and continues to expect fiscal 2027 adjusted EPS of $5.40 to $5.60.
Key points
- Cash purchase price of $600 million at closing, plus a $50 million deferred payment due on or before September 2027
- Storage West has up to 55 Bcf of working gas capacity and Salt Plains has up to 17 Bcf
- Closing expected in the second half of fiscal 2026, subject to Hart-Scott-Rodino review and other conditions
- Spire expects to give revised 2026 adjusted EPS guidance on its May earnings call; fiscal 2027 guidance of $5.40 to $5.60 is unchanged
The filing
Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.