Subsequent Event

3 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Event

Note 17 — Subsequent Event

Stonehenge Acquisition

On January 27, 2022, UGI through its wholly owned indirect subsidiary, Energy Services, completed the Stonehenge Acquisition in which Energy Services acquired all of the equity interests in Stonehenge, for total cash consideration of $190. The Stonehenge business includes a natural gas gathering system, located in Western Pennsylvania, includes more than 47 miles of pipeline and associated compression assets. The Stonehenge Acquisition is consistent with our growth strategies, including expanding our midstream natural gas gathering assets within the Appalachian basin production region. The Stonehenge Acquisition was funded with borrowings on the Energy Services Credit Agreement and cash on hand. We expect to refinance these borrowings on a long-term basis in the near future.