Constellation to buy Oklahoma natural gas company

Mergers, Acquisitions and TakeoversBusinessNatural GasEnergy ResourcesEnvironmental IssuesNatural ResourcesExelon Corp.

Constellation Energy Group has agreed to acquire a Tulsa, Okla., natural gas company for $22.5 million, the Baltimore company announced Thursday.

The proposed purchase of ONEOK Energy Marketing Co. would be the third acquisition this year that helps expand Constellation's retail business.

ONEOK's 26,100 customers would bring Constellation's total retail consumers to almost 1.1 million. ONEOK does business in Kansas, Oklahoma, Texas, Nebraska, Wyoming and Illinois.

The deal is expected to close in the first quarter of 2012.

Earlier this year, Constellation acquired MXenergy, a natural gas and electricity company, and StarTex Power, a Houston retail electricity provider.

Constellation is in the midst of its own proposed sale to Chicago-based Exelon Corp.

Hanah.cho@baltsun.com

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