Spotlight Energy Acquires PathPoint, Forging a Gas Trading Powerhouse

HOUSTON, TX – December 11, 2025 – Spotlight Energy, LLC has finalized its acquisition of PathPoint Energy LLC, a strategic move that creates a more formidable force in North America's dynamic natural gas trading and logistics landscape. The deal, which closed today, integrates PathPoint's specialized team of traders and optimization experts into Spotlight's established platform, significantly expanding the company's commercial reach and capabilities across the United States and Canada.

This combination signals a notable consolidation within the wholesale energy marketing sector, uniting two Houston-based firms known for their operational discipline and market expertise. The move is poised to accelerate Spotlight's growth and enhance its service offerings at a time when energy reliability and market optionality are paramount for customers ranging from producers to large-scale industrial end-users.

A Strategic Consolidation in a Growing Market

The acquisition arrives as the North American natural gas market continues its robust expansion. Valued at over $435 billion in 2024, the market is projected to exceed $622 billion by 2030, driven by the increasing use of natural gas for power generation and a growing industrial sector. In this competitive environment, dominated by supermajors and large independent marketers, scale and specialized expertise are critical for success.

Spotlight Energy, founded in 2015, has already carved out a significant presence, moving an average of 1.8 billion cubic feet (BCF) of natural gas per day and managing capacity on over 75 pipelines. The integration of PathPoint, a nimble firm established in 2021 with a focus on logistics and asset optimization, provides a powerful complement to Spotlight's existing infrastructure.

“The PathPoint acquisition enhances Spotlight Energy’s well-established optimization capabilities while supporting the expansion of our service platform, including through affiliates Spotlight Power LLC and OnePWR Solutions,” said Jake Field, CEO of Spotlight Energy. “By bringing together two teams known for trading excellence, origination expertise, and operational discipline, we are well positioned to deliver more reliable, real-time solutions for customers across the natural gas and power markets.”

The combined entity aims to leverage its expanded footprint to offer clients enhanced market access and more sophisticated, real-time trading solutions, strengthening its competitive position in a sector undergoing significant transformation.

Talent and Expertise Take Center Stage

Beyond the expansion of physical assets and market share, the acquisition is fundamentally a strategic investment in human capital. PathPoint Energy brings its entire “expert bench of natural gas schedulers and traders” to Spotlight, a move that underscores the value placed on specialized talent in the complex world of energy trading.

Leading this integration is Jared Kaiser, the founder and former CEO of PathPoint Energy, who will now serve as Spotlight Energy’s Chief Commercial Officer. Kaiser is a highly respected industry veteran with nearly three decades of experience, including senior leadership roles at bp, where he served as COO for North American Gas & Power and later for Global Natural Gas Liquids. His extensive background in commercial operations, trading, and asset management across North America is expected to be a significant driver of the combined company's commercial strategy.

“We are proud of what we built at PathPoint Energy,” stated Kaiser. “Integrating our trading and origination capabilities with Spotlight Energy’s proven platform creates meaningful value for our customers and strengthens our ability to provide dependable, market-leading service.”

The successful fusion of these two teams hinges on aligning their corporate cultures. PathPoint's emphasis on collaboration, ambition, and innovative thinking appears to complement Spotlight's established culture of trust, dependability, and creative problem-solving. This shared focus on a team-first approach is considered crucial for unlocking the full potential of the integrated organization.

Enhancing Reliability Amid Market Volatility

For customers, the most significant promise of this acquisition is enhanced reliability in a volatile energy landscape. The North American energy market is navigating a complex transition, with natural gas increasingly serving as a critical bridge fuel to support renewable energy and displace higher-emission sources like coal. Simultaneously, the growth of Liquefied Natural Gas (LNG) export facilities is linking domestic prices more closely to global events, adding another layer of complexity.

In this context, the ability to ensure a dependable gas supply is a key differentiator. The combination of Spotlight’s extensive pipeline network and PathPoint's logistical prowess is designed to create a more resilient and flexible supply chain. The expanded operational capabilities will provide customers with what the company calls “enhanced market optionality,” allowing for more agile responses to shifting market conditions and supply-demand dynamics.

By strengthening its physical trading and asset optimization, the new entity is better equipped to manage risk and provide stable, predictable energy solutions for utilities, power generators, and industrial clients who depend on natural gas for their daily operations. This focus on operational excellence and customer assurance directly addresses the market's core demand for stability.

Fueling a Broader, Integrated Energy Vision

This acquisition is not merely about strengthening a position in the natural gas market; it is a key component of a broader, integrated energy strategy. The enhanced capabilities are explicitly intended to support Spotlight's affiliates, including Spotlight Power LLC, which focuses on power optimization and energy management. This synergy between gas and power platforms allows the company to offer more comprehensive solutions that address the interconnected nature of modern energy systems.

Furthermore, PathPoint’s stated mission of helping to “fuel the low carbon transition” aligns with the industry’s long-term trajectory. As regulatory pressures and consumer preferences push for cleaner energy, the ability to provide and optimize natural gas as a transitional fuel becomes increasingly valuable. This forward-looking perspective positions the combined company to adapt to future market evolutions.

The leadership's vision extends even further. Spotlight CEO Jake Field is also a co-founder of ventures involved in LNG and Natural Gas Liquids (NGL) transportation, indicating a strategic interest that spans beyond traditional pipelines. By integrating PathPoint's expertise, Spotlight Energy is not just expanding its current operations but is also building a more versatile and forward-looking platform capable of navigating the energy transition and capitalizing on new opportunities across the North American energy value chain.