Dallas-Fort Worth just claimed another slate of victories in the corporate exodus from Delaware.
Four energy companies officially redomiciled from Delaware to Texas on Monday: Energy Transfer LP, Sunoco LP, SunocoCorp LLC and USA Compression Partners LP. All are major players in the oil and gas industry, and they announced the moves together on July 2.
They each already call Dallas home, in a way. Their respective corporate headquarters are already located here. By redomiciling, they are changing the jurisdiction where their companies are registered to do business — effectively aligning the geography of their physical and legal footprints.
Though the changes are effective in both Delaware and Texas as of Monday, they are not considered effective for market purposes until July 13, in accordance with New York Stock Exchange guidelines that require 10 days of advance notice. The NYSE ticker symbols for each of the four companies will remain unchanged: ET, SUN, SUNC and USAC, respectively.
The companies did not give a reason for their respective migrations in a joint news release. Representatives did not respond to requests for comment in time for publication.
But they join a growing contingent of corporate behemoths abandoning Delaware over the last year in search of greener pastures — which many have found in the Lone Star State.
Delaware has been the nation’s corporate capital for over a century, thanks to a well-established legal system that offered stability through decades of precedent and jury-less rulings at the nation’s premier business court, as well as favorable tax and privacy policies.
But that legal predictability has been called into question after recent rulings sent signals to executives that Delaware’s corporate court may not remain as friendly.
Most notably, the court intervened in 2024 to block a pay package over $50 billion that Tesla had earmarked for its CEO, Elon Musk, after some of the company’s shareholders protested. Though the state’s Supreme Court reversed the move in 2025, the initial decision had already made waves through the business community.
Musk infamously took his grievances to X the day of the initial ruling, writing on Jan. 30, 2024, “Never incorporate your company in the state of Delaware.” He moved Tesla and SpaceX to Texas later that year.
The wave has been enough to trigger rumors of an exodus en masse from Delaware, cheekily dubbed “DExit.”
Although the jury’s still out on whether DExit has become a reality, major players are looking to Texas as a primary beneficiary. Robust financial infrastructure in North Texas have made the state an attractive destination for companies taking flight — including newer endeavors like the Texas Business Court, established in 2024, and the Texan trading trifecta of NYSE Texas, the Texas Stock Exchange and Nasdaq Texas.
“If Texas builds it, companies will come,” U.S. Securities and Exchange Commission chair Paul Atkins said in February.