Expand Energy Acquires Twin Eagle for $1.25 Billion
Expand Energy Corporation has announced its acquisition of Twin Eagle Holdings, N.A., LLC for $1.25 billion. The deal is expected to create North America's leading integrated natural gas company.
The combined entity will unite Expand's industry-leading supply and financial strength with Twin Eagle's premier physical marketing platform. This partnership will enable the new company to capture value across the entire natural gas chain in key U.S. and Canadian markets.
Twin Eagle, a leading private asset-backed natural gas marketing and optimization business, has consistently delivered earnings growth across various market conditions. With its presence in over 1,000 customers across a diversified footprint spanning the U.S. and Canada, Twin Eagle will become a wholly-owned subsidiary of Expand following the close of the merger.
The acquisition is expected to accelerate Expand's marketing and commercial ambitions, combining industry-leading natural gas supply with sophisticated asset-backed gas marketing capabilities. The transaction is anticipated to be immediately accretive, contributing more than $200 million of projected annual EBITDA, as well as $150 million per year of synergies by 2028.