RAPID CITY, S.D. - July 1, 2015 - Black Hills Corp. (BKH) has completed the acquisition of Wyoming natural gas utility Energy West Wyoming and natural gas pipeline assets from Energy West Development. Both companies were subsidiaries of Gas Natural (NYSE MKT: EGAS).
Black Hills acquired the utility and pipeline assets for approximately $17 million. The acquired system serves approximately 6,700 customers in Cody, Meeteetse and Ralston in Wyoming. The pipeline acquisition includes 30 miles of natural gas transmission pipeline and a 42-mile natural gas gathering pipeline, both near the utility`s service territory.
"This acquisition is an excellent fit and promotes our strategy to grow our customer base through acquiring utilities near our existing operations," said Linn Evans, Black Hills Corp.`s president and chief operating officer of utilities. "This acquisition, in conjunction with our January purchase of the MGTC natural gas system in northeastern Wyoming, demonstrates our commitment to the state of Wyoming and allows us to leverage our scale and more than 132 years of experience in providing our customers with safe and reliable energy."
Black Hills previously received approvals to acquire Energy West Wyoming from the Wyoming Public Service Commission and the Federal Energy Regulatory Commission. Black Hills Corp. will operate the assets under the name Black Hills Energy.
Black Hills Corporation
Black Hills Corp. (BKH) is a growth-oriented, vertically-integrated energy company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, S.D., the company serves 792,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company also generates wholesale electricity and produces natural gas, oil and coal. Black Hills Corp.`s more than 2,000 employees form partnerships and produce positive results for our customers, communities and shareholders. More information is available at www.blackhillscorp.com.
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Jerome E. Nichols
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jerome.nichols@blackhillscorp.com
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Source: Black Hills Corporation via GlobeNewswireHUG#1933574