Hess Corp. will acquire the commodity business of Delta Energy LLC, a regional natural gas marketing company with commercial and industrial (C&I) and small business customers in Ohio, Pennsylvania and five other states, the companies said. Terms of the agreement, which is expected to close this fall, were not disclosed.
New York-based Hess will acquire Delta's gas marketing business and associated operations. Delta Energy Services LLC, a separate entity that provides energy management consulting services for industrial clients, is not included in the deal. Most Delta commodity employees will join Hess at offices in Dublin, OH.
"Hess Energy Marketing has been a supplier in Ohio since 2000 and with this acquisition will become the No. 1 natural gas C&I supplier in the state," Hess said. The company is a large provider of electricity, natural gas and fuel oil to C&I customers in the 21-state market area in which it operates.
The deal comes one year after Hess acquired almost 185,000 net acres in the Utica Shale after agreeing to buy Marquette Exploration LLC for $750 million. The company also agreed to pay Consol Energy Inc. $593 million to acquire a half interest in nearly 200,000 net acres in eastern Ohio.
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