National Fuel closes $2.62B purchase of CenterPoint Energy's Ohio gas utility with 335,000 customers

NATIONAL FUEL GAS CO

$2.62B purchase price paid via $1.42B cash plus a $1.20B promissory note to seller CenterPoint Energy Resources Corp.; closing occurred October 1, 2026.
$1.20B Seller Note Facility: unsecured, matures Sept. 30, 2027, bears 6.5% interest; covenant limits debt-to-capitalization to 0.65 at each quarter-end.
Acquired Vectren Energy Delivery of Ohio renamed National Fuel Gas Distribution of Ohio, LLC; serves ~335,000 customers across 16 counties in Dayton/Miami Valley.
Deal doubles National Fuel's utility rate base and lifts total utility customers to ~1.1 million; ~200 Ohio employees join the company.
CenterPoint Ohio H1 2026 results: revenue $171M, net income $38M; total assets $2,534M, including $1,854M net PP&E and $219M goodwill.

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