DENVER, Dec. 16, 2003 — Atmos Energy Corp. said it has signed a definitive agreement to acquire the natural gas assets of ComFurT Gas, Inc., a privately held natural gas utility and propane distributor.
ComFurT Gas, based in Buena Vista, Colorado, serves approximately 1,800 natural gas utility customers and 2,000 propane customers. Atmos Energy is purchasing only the natural gas segment of the business, a 49-mile natural gas distribution system. The propane segment will continue to be owned and operated by ComFurT Gas.
“The natural gas assets of ComFurT Gas will fit well into the growing Atmos Energy system,” said Gary Schlessman, president of Atmos Energy’s Colorado-Kansas Division. “Currently, we serve ComFurT’s neighbors on both sides, Gunnison and Crested Butte on the west side and Salida and Canon City on the east side. Our business values, our dedication to providing excellent customer service and our commitment to our employees and the communities we serve mirror what is already in place with ComFurT Gas.”
As part of Atmos Energy, customers in Buena Vista will join a utility system that serves 60 other communities throughout Colorado, with Greeley being the largest city served and Canon City being the second largest.
Atmos Energy’s Colorado-Kansas Division, based in Denver, serves approximately 104,000 natural gas utility customers in Colorado and 113,000 customers in Kansas.
This acquisition, which is subject to approval by the Colorado Public Utilities Commission, is expected to be completed within six to nine months. The purchase price is $1.95 million in cash.
Atmos Energy Corporation, headquartered in Dallas, is one of the largest natural gas distributors in the United States, serving about 1.7 million gas utility customers. Atmos Energy’s utility operations serve more than 1,000 small and medium-size communities in 12 states from the Blue Ridge Mountains in the East to the Rocky Mountains in the West. Atmos Energy’s nonutility operations, organized under Atmos Energy Holdings, Inc., operate in 18 states. They provide natural gas marketing and procurement services to municipal, industrial and commercial customers, manage company-owned natural gas storage and pipeline assets, construct small electric generating plants for industrial and municipal customers, and hold an indirect equity interest in Heritage Propane Partners, L.P., the fourth-largest U.S. propane marketer. For more information, visit www.atmosenergy.com .