Spire completes sale of natural gas storage businesses to I Squared Capital for $650M

Key Facts

1Spire Inc. (NYSE: SR) completed the sale of its natural gas storage businesses in Wyoming and Oklahoma to I Squared Capital for $650 million.

As utility companies move to streamline their portfolios, Spire Inc. (NYSE: SR) completed the sale of its natural gas storage businesses in Wyoming and Oklahoma to I Squared Capital for $650 million. According to reports, employees and customers will transition to a new portfolio company, Bear River Midstream LLC, a subsidiary of I Squared Capital.

The deal aims to sharpen Spire's focus on its core regulated natural gas distribution business and partially fund the acquisition of Piedmont Natural Gas Tennessee operations. The completion was widely expected after the deal was previously announced, leading to a neutral market reaction.

Spire shares (SR) closed at $79.28 on June 29, 2026, after trading in a range of $78.63 to $80.40. With no near-term company-specific catalysts on the calendar, investors will watch for updates on the Piedmont acquisition and the company's ability to strengthen its regulated utility profile.