Northwest Natural Holding Company has announced the completion of its acquisition of Hughes Gas Resources, Inc., a Texas natural gas utility, through its subsidiary SiEnergy Operating, LLC. The purchase, valued at $60 million, includes Hughes' approximately 6,900 connections in 12 communities northeast of Houston. This acquisition is expected to expand SiEnergy's regulated gas utility business in Texas with a customer backlog of around 11,000. The transaction is anticipated to be accretive in the first full year of operations. Following the acquisition, Hughes will be rebranded to Pines Holdings, Inc.
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