Bear River Midstream Launches as an Independent Natural Gas Storage Company, Backed by I Squared Capital

Former Spire Inc. Storage assets rebranded following completion of acquisition

Houston, June 30, 2026 (GLOBE NEWSWIRE) -- Bear River Midstream today launched as an independent midstream energy company, bringing a new name and ownership structure to a company that is geographically and strategically well-positioned to capitalize on the United States’ strength in natural gas. The company was formed following the completion of I Squared Capital’s (“I Squared”) acquisition of Spire Inc.’s natural gas storage assets in Wyoming and Oklahoma.

The launch of Bear River Midstream represents more than a change of ownership, it marks the beginning of an independent chapter for assets that have long served as critical infrastructure serving the Western and Mid-Continent regions. Under I Squared’s ownership, the company will operate with a dedicated management team, a long-term investment mandate and a strategic focus on expanding natural gas storage capacity to meet growing demand and support energy reliability and flexibility across key U.S. markets.

Backed by I Squared, a leading global infrastructure investment manager, Bear River Midstream brings together established storage assets, experienced leadership and long-standing customer relationships.

“Bear River Midstream is launching at a time when demand for reliable and flexible energy infrastructure is growing, driven by accelerating power needs from AI technology data centers, expanding LNG exports and load growth across utility, commercial and industrial markets,” said Scott Smith, CEO of Bear River Midstream. “Our natural gas storage assets play a critical role in balancing energy supply and demand, particularly during peak demand periods from extreme weather, renewable integration and market volatility. We’re proud to build on the operational excellence and customer relationships established under Spire, and excited to partner with I Squared Capital as we begin our next chapter as Bear River Midstream – an independent company with the capital and ambition to grow.”

Customers will experience a seamless transition, with existing contracts, operations and service teams remaining unchanged. Bear River Midstream will continue to focus on safety, reliability and customer service.

As part of the launch, Spire Storage West has been renamed Stallion Gas Storage and Spire Storage Salt Plains has been renamed Salt Plains Gas Storage, reflecting Bear River Midstream’s identity as an independent platform. Stallion Gas Storage in southwestern Wyoming consists of two integrated underground natural gas storage fields collectively certificated to provide up to 55 Bcf of working gas capacity with a peak withdrawal capability of approximately 980 MMcf per day. Located near the Opal Hub, a key trading point for natural gas in the Western U.S., the facility connects to five major interstate natural gas pipelines — Kern River Gas Transmission, Ruby Pipeline, MountainWest Pipeline, MountainWest Overthrust Pipeline and Northwest Pipeline. With these interconnections, customers can also access the Rockies Express Pipeline for markets to the west and east.

Bear River Midstream also operates Salt Plains Gas Storage in Manchester, Oklahoma, a 17 Bcf working gas capacity facility serving the Mid-Continent market, including Oklahoma, Kansas and Missouri. The facility connects to Southern Star Pipeline and ONEOK’s Oklahoma Gas Transmission system, providing customers with the flexibility to manage seasonal demand shifts, weather-driven volatility and evolving energy needs in the region.

Together, these assets form a strategically located storage platform designed to deliver reliability, flexibility and operational scale. For more information about Bear River Midstream, its assets and services, visit www.brmidstream.com.

About Bear River Midstream
Bear River Midstream is a midstream energy company delivering safe and reliable natural gas storage across the Western and Mid-Continent United States. Backed by I Squared Capital and led by an experienced midstream energy team, the company’s strategically located storage assets help balance supply and demand to ensure energy is available when customers need it most. Bear River Midstream serves utilities, pipelines, power generators, industrial customers and energy producers across key U.S. markets. Learn more at www.brmidstream.com.

About I Squared Capital
I Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing over $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.

Media Contacts
Bear River Midstream Kelly Hoskinson khoskinson@linhartpr.com
I Squared Capital Dominic McMullan / Sofie Brewis info@isquaredcapital.com

Contact Info

Bear River Midstream
brmidstream@linhartpr.com

Attachments

• Salt Plains Gas Storage
• Stallion Gas Storage

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