Spire completes $657 million sale of natural gas storage businesses to I Squared
Spire Inc. completed the sale of its Spire Storage businesses, which hold natural gas storage assets in Wyoming and Oklahoma, to an affiliate of I Squared Capital on June 30, 2026. The 8-K gives total consideration of $657 million, while the accompanying press release states $650 million, so the figures differ slightly. Spire says the proceeds will support its regulated utility operations, capital plan and debt reduction, and help fund its earlier Piedmont Natural Gas Tennessee acquisition.
Key points
- Total consideration is $657 million in the 8-K: $607 million cash at closing, subject to price adjustments, plus $50 million deferred until September 30, 2027.
- The press release states $650 million total ($600 million cash at closing plus a $50 million deferred payment in fiscal 2027).
- Proceeds help fund the Piedmont Natural Gas Tennessee acquisition, which closed March 31, 2026.
- The storage business will operate as Bear River Midstream LLC under I Squared; the Wyoming assets can provide up to 55 Bcf of working gas capacity and the Oklahoma facility up to 17 Bcf.
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 June 30, 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.