M&A Deal Summary

Enbridge Acquires Dominion East Ohio

On September 5, 2023, Enbridge acquired oil/gas exploration company Dominion East Ohio from Dominion Energy

Acquisition Highlights
  • This is Enbridge’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Enbridge’s 9th transaction in the United States.
  • This is Enbridge’s 1st transaction in Ohio.

M&A Deal Summary
Date 2023-09-05
Target Dominion East Ohio
Sector Oil/Gas Exploration
Buyer(s) Enbridge
Sellers(s) Dominion Energy
Deal Type Divestiture

Target

Dominion East Ohio

Cleveland, Ohio, United States
website
Dominion East Ohio which serves more than 1.2 million customers across more than 400 communities and 27 counties in Ohio. Dominion East Ohio is based in Cleveland, Ohio.

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Buyer(S) 1

Buyer

Enbridge

Calgary, Alberta, Canada

website

Category Company
Founded 1949
Sector Energy Services and Equipment
Employees11,100
Revenue 53.3B CAD (2022)
DESCRIPTION
Enbridge office in West Duluth, Minnesota.
Enbridge office in West Duluth, Minnesota.

Enbridge operates a US and Canadian crude oil and liquid transportation network. Enbridge was incorporated in 1949 and is based in Calgary, Canada.

DEAL STATS #
Overall 13 of 13
Sector (Oil/Gas Exploration) 3 of 3
Type (Divestiture) 5 of 5
State (Ohio) 1 of 1
Country (United States) 9 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-29 Tri Global Energy

Dallas, Texas, United States

Tri Global Energy is a renewable energy developer drawing on the natural, renewable resources of the wind and the sun to successfully address the growing demand for clean and sustainable energy. Tri Global Energy is a developer and a manager of Hale County Wind Farm, Cotton Wind Farms, Lakeview Wind Farms, and East Mound Renewable Energy. Tri Global Energy was founded in 2009 and is based in Dallas, Texas.

Buy $270M

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States

website

Category Company
Founded 1983
Sector Utilities
Employees17,200
Revenue 17.2B USD (2022)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.

DEAL STATS #
Overall 11 of 11
Sector (Oil/Gas Exploration) 5 of 5
Type (Divestiture) 11 of 11
State (Ohio) 1 of 1
Country (United States) 11 of 11
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-11 Hope Gas

Clarksburg, West Virginia, United States

Hope Gas provides reliable and affordable natural gas, safely, to the people and businesses of the Mountain State. It has been a pioneer in the natural gas sector, taking part in the construction of one of America's first interstate pipelines, which originated in Wetzel County, and building the country's first extraction plant at Hastings. Hope Gas was formed in 1898 and is based in Clarksburg, West Virginia.

Sell $690M
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