Enbridge Inc. heralded the more than $20 billion of acquisitions it announced in 2023, including a string of deals to transform its natural gas utility operations in the Lower 48.

The utilities would boost Enbridge’s Lower 48 customer base to 7 million and position it for long-term growth following the surge in fourth-quarter and full-year 2023 profits it posted Friday.

“We further diversified and extended our geographic reach and opportunity set in the natural gas utility business with a significant acquisition of three great gas utilities in growth regions of the U.S., which will extend our growth aspirations through the decade,” CEO Greg Ebel told analysts during a call to discuss results.

[Download Now: In our 2024 Natural Gas Outlook Report ‘Future In Focus’,...