Northwest Natural Holding Company (NW Natural Holdings), through its wholly owned subsidiary SiEnergy Operating, LLC, has finalized the acquisition of Hughes Gas Resources, Inc. from EPCOR USA Inc. for $60 million. The acquisition, completed as of June 2025, marks a strategic expansion of NW Natural Holdings’ presence in the Texas natural gas utility market.

Hughes, which serves roughly 6,900 customer connections across 12 communities northeast of Houston, aligns closely with SiEnergy’s business model. It has demonstrated steady, organic growth by extending natural gas infrastructure to support residential and commercial developments in fast-growing regions. The utility’s rate base is projected to reach approximately $46 million by the end of 2025.

With this acquisition, SiEnergy strengthens its regulated natural gas operations in Texas and adds a contracted customer backlog of about 11,000, indicating sustained growth potential. The company expects the transaction to be financially accretive in its first full year of operation.

“Hughes is a great fit for us and a logical next step as we grow our utility operations in Texas,” said Justin B. Palfreyman, president and CEO of NW Natural Holdings. “We’re excited to complete this transaction, which increases SiEnergy’s scale and sets the stage for future expansion.”

June Dively, president of SiEnergy, echoed those sentiments. “I’m pleased to close this acquisition and begin serving even more customers in Texas,” she said. “Both of our utility operations are deeply committed to delivering safe and reliable natural gas service that benefits the communities we serve. We are thrilled to welcome Hughes into the SiEnergy family and look forward to the continued momentum it brings.”

Following the acquisition, Hughes is expected to be rebranded as Pines Holdings, Inc., signaling a new chapter in the utility’s development under SiEnergy’s leadership. The integration of Hughes adds further operational depth and customer reach to NW Natural Holdings’ growing portfolio in the region.

This transaction underscores NW Natural Holdings’ broader growth strategy, focused on investing in high-potential markets and delivering long-term value to customers and shareholders alike. With its expanded footprint in Texas, the company is well positioned to meet increasing demand for natural gas services in one of the country’s fastest-growing states.

NW Natural Holdings, headquartered in Portland, Oregon, continues to explore strategic opportunities to expand its utility presence while maintaining a strong commitment to safety, reliability and community engagement.

Northwest Natural Holding Company, based in Portland, Oregon, has been in operation for more than 166 years. Through its subsidiaries, NW Natural Holdings provides vital energy as well as essential water and wastewater services to nearly one million meters across seven states.