Hunt, Sharyland acquires Cap Rock

Hunt Oil Co.’s electricity business, Sharyland Utilities, will buy West Texas utility Cap Rock Energy Corp. for $221.5 million.
The deal expands Sharyland’s transmission territory into 28 counties in West Texas and North Texas and gives it 38,000 more customers.
Sharyland’s current service territory is along the Rio Grande border in the South Texas cities of Mission and McAllen, but it’s corporate offices are located in Dallas. It’s privately-owned by Hunter L. Hunt and other members of the Ray L. Hunt family.
Cap Rock began as an electric cooperative in 1939 and became a publicly-owned utility in 2002. In 2006 it became private again when Continental Energy Systems purchased it.