Tuesday, September 16, 2025

Warren Buffett’s Berkshire Hathaway Acquires Dominion Energy

Despite the significant volatility in the US stock market, there still appear to be deals worth pursuing – at least according to Warren Buffet. The billionaire’s Berkshire Hathaway has caved in and purchased Dominion Energy’s natural gas transmission and storage assets for a total of $4 billion and $5.7 billion in debt.

This significant purchase marks the first for the conglomerate since the onset of the coronavirus pandemic and resulting market crash. Back in May, Buffet stated that Berkshire had been hoarding a total of approximately $137 billion in cash while stock markets collapsed due to lack of feasible deals – until now.

With Berkshire’s new acquisition, Dominion has been focusing on transitioning to a pure-play regulated utility firm with a concentration on deriving clean energy from solar, wind, and natural gas. As such, the company is anticipating that at least 90% of its future earnings will be derived from its various utility companies that deliver energy to over 7 million customers across the US.

In the meantime, Dominion revealed that it will be terminating the planned Atlantic Coast Pipeline project alongside Duke Energy, and will also be anticipating a reduction in its operating earnings for the remainder of the year. However, Berkshire sees this new acquisition as a positive step towards developing its footprint in the natural gas market.

Before the acquisition, Berkshire accounted for 8% of interstate natural gas transmission across the US; now however, the conglomerate will be responsible for 18% of natural gas transmission. Furthermore, with the 100% purchase of Dominion, Berkshire will also be acquiring Carolina Gas Transmission and Questar Pipeline, in addition to 50% of the Ironquois Gas Transmission System, and 25% of Cove Point LNG.

Information for this briefing was found via CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Warren Buffet-Backed Occidental Petroleum To Acquire Carbon Engineering For $1.1 Billion

Occidental Petroleum Corp. (NYSE: OXY), backed by Warren Buffett, has announced its acquisition of Canadian...

Thursday, August 17, 2023, 02:54:00 PM

BREAKING: Berkshire Hathaway Class A Shares Suddenly Drop 99.97%

Berkshire Hathaway (NYSE: BRK.A) has seen its Class A shares halted by the New York...

Monday, June 3, 2024, 10:17:12 AM

Warren Buffett’s Berkshire Hathaway Adds 6 Million More Occidental Petroleum Shares

Berkshire Hathaway (NYSE: BRK.A), a conglomerate helmed by Warren Buffett, strengthened its largest shareholder position...

Friday, September 30, 2022, 03:03:00 PM

Canadian Greg Abel Set to Succeed Berkshire Hathaway CEO Warren Buffett By Year-End

Canadian-born Greg Abel is poised to take over as CEO of Berkshire Hathaway (NYSE: BRK.B)...

Monday, May 5, 2025, 03:31:00 PM

Warren Buffet Buys 20.9 Million Shares of Barrick Gold, Sells Remainder of Stake in Goldman Sachs

It appears that Barrick Gold (TSX: ABX) (NYSE: GOLD) has a lot of reason to...

Friday, August 14, 2020, 07:11:47 PM