Enstor to acquire Black Bear Transmission, expanding pipelines and storage capacity, enhancing Southeast U.S. natural gas delivery and growth strategy.
Enstor Pipeline Holdings, LLC, an affiliate of Enstor Gas, LLC, has entered into a definitive purchase and sale agreement with funds managed by Basalt Infrastructure Partners to acquire Black Bear Transmission Opco, LLC. The acquisition remains subject to standard closing conditions, including necessary regulatory approvals, and is projected to be finalized in the fourth quarter of 2025.
Black Bear Transmission operates as a long-term contracted natural gas transportation business, playing a critical role in delivering natural gas to a wide range of customers across the Southeastern United States. Its customer base includes power generation companies, utilities, and industrial users. The company’s network is substantial, consisting of nine regulated transmission systems spanning approximately 1,700 miles of pipeline infrastructure. These pipelines together have a throughput capacity of about 2.6 billion cubic feet per day (Bcf/d). Additionally, Black Bear’s systems are well-integrated into the national grid, connecting with 16 major long-haul pipelines and storage facilities across seven states—Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee.
Enstor, already recognized as one of the largest privately owned natural gas storage operators in the United States, manages six underground natural gas storage facilities and nearly 170 miles of supporting pipeline. With a throughput capacity exceeding 5 Bcf/d, Enstor’s operations serve a diverse portfolio of investment-grade customers, including utilities, energy marketers, industrial clients, and pipeline operators.
Following the acquisition, Enstor will significantly expand its operational footprint. The combined company will operate more than 1,800 miles of transmission pipelines in addition to its six underground storage facilities, together providing over 110 billion cubic feet (Bcf) of certificated working gas capacity. This strategic integration positions Enstor to strengthen its role in delivering reliable, demand-driven energy infrastructure solutions.
Paul Bieniawski, Chief Executive Officer of Enstor, expressed enthusiasm about the acquisition, highlighting the strategic benefits of adding Black Bear to the company’s portfolio. “We are extremely excited to acquire Black Bear, a highly complementary addition to Enstor’s platform that enhances operational efficiencies and supports our long-term growth strategy,” he stated. “The Black Bear system is contracted with investment-grade counterparties, which complements Enstor’s existing contract portfolio, and represents a strategic downstream expansion, providing a portfolio of demand-driven, regulated ‘last-mile’ pipelines serving utilities, power generators, and other key end-use customers across the Southeast U.S.”
David Greenblatt, Managing Partner at Basalt, also reflected positively on the deal. “This is a great outcome. Black Bear Transmission has achieved exceptional organic and inorganic growth since our acquisition in 2019. Today, the company is recognized as a leading supplier of natural gas across the Southeast. We are excited to see the company continue its strong growth trajectory as part of Enstor,” he said.
This acquisition underscores Enstor’s commitment to expanding its footprint in the natural gas infrastructure sector, strengthening reliability and customer service while aligning with its broader growth objectives.
