Expand Energy has agreed to acquire natural gas marketer Twin Eagle Holdings in a $1.25 billion deal aimed at expanding commercial operations, lifting marketed gas volumes to around 14 Bcf per day and increasing long-term free cash flow from its commercial and marketing business.
MONTREAL (Oil Monster): Expand Energy has announced a $1.25 billion agreement to acquire Twin Eagle Holdings, a natural gas marketing and optimization company. The move is aimed at expanding its commercial operations and strengthening its presence across the North American gas market.
The acquisition is expected to be completed during the third quarter of 2026, subject to regulatory approval and customary closing requirements. The acquisition deal will be financed through a mix of available cash and borrowings under its existing revolving credit facility.
Twin Eagle currently markets more than 5 billion cubic feet (Bcf) of natural gas per day and manages an extensive network of storage and transportation assets. Upon finalization of the deal, the combined business is expected to market approximately 14 Bcf of natural gas daily, supported by significantly larger transportation and storage capabilities.
The acquisition is forecast to contribute more than $200 million in annual EBITDA initially. The annual synergies are projected to reach approximately $150 million by the end of 2028. Furthermore, Expand has also increased its long-term free cash flow target from its commercial and marketing operations to $750 million per annum.
Expand Energy said the acquisition will improve its ability to supply natural gas directly to customers across the United States and Canada.
Expand Energy announced a $1.25 billion agreement to acquire Twin Eagle Holdings, a natural gas marketing and optimization company.
The acquisition is expected to be completed during the third quarter of 2026, subject to regulatory approval and customary closing requirements.
Twin Eagle currently markets more than 5 Bcf of natural gas per day, and after the deal closes the combined business is expected to market approximately 14 Bcf per day.
The acquisition is forecast to contribute more than $200 million in initial annual EBITDA, with synergies projected to reach about $150 million per year by the end of 2028.
Expand Energy has increased its long-term free cash flow target from its commercial and marketing operations to $750 million per annum as a result of the acquisition.
