Black Hills Corp. Announces Approval in Arkansas for Purchase of SourceGas
Approval represents significant milestone in SourceGas acquisition
RAPID CITY, S.D. - Jan. 18, 2016 - Black Hills Corp. (NYSE: BKH) utility subsidiary Black Hills Utility Holdings, Inc. today announced that on Jan. 15, 2016, it received approval from the Arkansas Public Service Commission to purchase SourceGas Holdings LLC. Black Hills and SourceGas filed the joint application on Aug. 10, 2015, with the Arkansas commission.
"Today's announcement represents a significant milestone in our acquisition of SourceGas, and reaffirms our strategy that acquiring SourceGas will benefit both our shareholders and our customers," said Linn Evans, president and chief operating officer of Black Hills Corp. "As Arkansas is a new region for Black Hills, we look forward to serving and developing new relationships with these customers."
SourceGas is a natural gas utility company serving approximately 425,000 customers in Arkansas, Colorado, Nebraska and Wyoming. Black Hills expects to close the acquisition in the first quarter of 2016.
Black Hills Corporation
Black Hills Corp. (NYSE: 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.
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Caution Regarding Forward-Looking Statements
This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements, including the benefits for customers and shareholders. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including the factors discussed above, the risk factors described in Item 1A of Part I of our 2014 Annual Report on Form 10-K, as amended by Form 10-K/A filed on August 7, 2015, Item 1A of Part II of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, and other reports that we file with the SEC from time to time.
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Source: Black Hills Corporation via Globenewswire
Source: Thomson Reuters ONE
(January 18, 2016 - 7:15 AM EST)
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