Black Hills Corp. Completes Acquisition of Gas Utility Assets in N.w. Wyoming

Source Press Release
Company Black Hills CorpGas Natural Inc. 
Tags Corporate Deals, Deals, Refining & Marketing Activities, Pipelines/ tankers/ distribution
Date July 01, 2015

Black Hills Corp. (NYSE: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.

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