M&A Deal Summary

PNG Companies Acquires Dominion Gas

On January 4, 2010, PNG Companies acquired oil/gas exploration company Dominion Gas from Dominion Energy for 780M USD

Acquisition Highlights
  • This is PNG Companies’ 1st transaction in the Oil/Gas Exploration sector.
  • This is PNG Companies’ largest (disclosed) transaction.
  • This is PNG Companies’ 1st transaction in the United States.
  • This is PNG Companies’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2010-01-04
Target Dominion Gas
Sector Oil/Gas Exploration
Buyer(s) PNG Companies
Sellers(s) Dominion Energy
Deal Type Divestiture
Deal Value 780M USD

Target

Dominion Gas

Pittsburgh, Pennsylvania, United States
Dominion (Peoples) Gas Corp. engages in the production of gas.

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Buyer(S) 1

Buyer

PNG Companies

New York, United States
Category Company
Sector Utilities
DESCRIPTION

PNG Companies LLC is a natural gas distribution company.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States
Category Company
Founded 1983
Sector Utilities
Employees17,700
Revenue 14.4B USD (2023)
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 2 of 12
Sector (Oil/Gas Exploration) 2 of 5
Type (Divestiture) 2 of 12
State (Pennsylvania) 1 of 1
Country (United States) 2 of 12
Year (2010) 1 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-31 Dominion Resources - Gas Exploration Production

United States

A natural gas exploration and production company.

Sell $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-15 Dominion Appalachian E&P Business

United States

Dominion Appalachian E&P Business engages in exploration and production business.

Sell $3.5B
Mergr

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