DENVER, March 3, 2004 — Atmos Energy Corp. said it has completed its acquisition of the natural gas assets of ComFurT Gas, Inc., a privately held natural gas utility and propane distributor based in Buena Vista, Colorado.
Atmos Energy paid $1.95 million cash for ComFurT Gas’ 49-mile natural gas distribution system, which serves approximately 1,800 utility customers. ComFurT Gas will continue to own and operate its propane business.
“We are very pleased that the owners of ComFurT Gas chose Atmos Energy to continue their long tradition of efficient and courteous service,” said Gary Schlessman, president of Atmos Energy’s Colorado-Kansas Division. “The natural gas assets of ComFurT Gas fit well into Atmos Energy’s own system. But even more important, our business values of safety, reliability and efficiency reflect those of ComFurT Gas.”
Gas utility rates for customers in Buena Vista will not increase as a result of the change of ownership, Schlessman said. Over the long-term, he said, the Buena Vista customers’ cost of service is expected to benefit from efficiencies and economies of scale that can be achieved by Atmos Energy.
Atmos Energy’s Colorado-Kansas Division, based in Denver, serves 60 communities in Colorado with approximately 104,000 natural gas utility customers. The division also serves 113,000 customers in Kansas.
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 and construct small electric generating plants for industrial and municipal customers. For more information, visit www.atmosenergy.com.