Shell subsidiary, Shell Energy North America (US), L.P. has signed a purchase agreement to acquire the assets of Enspire Energy, LLC, a Virginia-based energy marketing company that serves customers throughout the Mid-Atlantic United States.
The agreement is expected to be finalized in the early portion of first quarter 2009, providing the completion of certain contractual requirements and the receipt of necessary regulatory approvals.
"We are pleased to finalize this agreement with Enspire Energy," said Mark Quartermain, president of Shell Energy North America. "We look forward to further increasing Shell Energy's scale, resources and market knowledge with the expertise, resources and experience added through the acquisition of Enspire Energy. We believe it will enable Shell Energy to offer a broader portfolio of value-added services to customers in the mid-Atlantic region of the United States."
Jim Lukas, president and CEO of Enspire added, "Enspire's regional expertise combined with Shell's assets and financial strength will help us provide an increased array of products while maintaining the superior service to which our customers are accustomed."
Shell Trading is a global business network integrating the worldwide energy trading activities of Royal Dutch Shell plc companies, of which Shell Energy North America (US), L.P., and its subsidiaries, are an integral part. Headquartered in Houston, Texas, with trading and marketing offices located across North America, Shell Energy offers a comprehensive portfolio of energy-related products and services associated with natural gas, power and environmental products marketing and trading. Shell Energy markets and trades natural gas, wholesale power and risk products with counterparties and customers across North America. Its customers include commercial and industrial end users, utilities, producers, generators and aggregators.
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