Dominion Energy Wraps Up Sale of Western Gas Assets to Questar Gas

Dominion Energy, Inc. (NYSE: D), has officially completed the sale of Questar Gas Company, its Salt Lake City, Utah-based natural gas utility, and Wexpro Company, its cost-of-service gas supply firm, to Enbridge Inc. (TSX: ENB) (NYSE: ENB). The transaction, valued at approximately $4.3 billion, encompassing assumed indebtedness and adjusted for customary closing items, was initially disclosed on September 5, 2023.

With a network spanning over 21,000 system miles, Questar Gas Company caters to 1.2 million customer accounts across Utah, Wyoming, and Idaho. Additionally, Wexpro Company provides natural gas to Questar Gas through a cost-of-service arrangement. Dominion Energy and Enbridge anticipate finalizing the sale of Dominion Energy's gas distribution entity, based in Gastonia, N.C., in a distinct transaction later this year.

Dominion Energy (NYSE: D), based in Richmond, Va., powers over 4.5 million homes and businesses across 13 states with electricity or natural gas. The company's mission is to deliver dependable, cost-effective, and progressively sustainable energy solutions, aiming to attain Net Zero emissions by 2050.

Dominion Energy, Inc., often known simply as Dominion, is an American energy corporation with its main offices situated in Richmond, Virginia. The company distributes electricity across sections of Virginia, North Carolina, and South Carolina, and provides natural gas to regions of Utah, Idaho, Wyoming, West Virginia, Ohio, Pennsylvania, North Carolina, South Carolina, and Georgia. Additionally, Dominion operates generation facilities located in Indiana, Illinois, Connecticut, and Rhode Island.

In September 2016, Dominion Energy acquired Questar Corporation, extending its presence in the Western United States, encompassing areas within Utah and Wyoming. Then, in January 2019, Dominion Energy finalized its acquisition of SCANA Corporation.

Dominion Exploration and Production, a subsidiary of Dominion, specialized in natural gas and oil exploration and production, becoming one of the leading independent operators in the industry by 2007. However, in the same year, Dominion opted to divest the majority of its oil and natural gas exploration and production assets, redirecting its focus towards expanding its electric generation and energy distribution, transmission, storage, and retail businesses, particularly in Virginia, West Virginia, and North Carolina.

Dominion operates across four distinct segments. It produces electricity for regulated sale within its Virginia and North Carolina markets, as well as for wholesale distribution in other regions across the Northeast and Midwest of the United States. Electricity generation stands as Dominion's primary segment. Additionally, Dominion operates as a regulated electric utility, facilitating the transmission and distribution of electricity from its power plants situated in Virginia, North Carolina, Connecticut, and West Virginia to its customers.