Approval represents significant milestone in SourceGas acquisition
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.