Southwest Gas Completes Black Mountain Gas Company Acquisition
PHOENIX, Oct. 21 /PRNewswire-FirstCall/ -- Southwest Gas Corporation (NYSE: SWX) has completed the acquisition of Black Mountain Gas Company (BMG) in Arizona.
The BMG natural gas distribution system serves approximately 8,400 natural gas customers in portions of Carefree, North Scottsdale, North Phoenix and Cave Creek, Arizona. The acquired system is surrounded by the existing Southwest local distribution system. Also included in the acquisition is the BMG propane system, serving about 2,500 customers in Page, Arizona and the metropolitan Phoenix area.
The metro Phoenix natural gas operations will continue to do business under the Black Mountain Gas Company name for several weeks while customer records and other business processes are integrated into Southwest Gas.
Southwest Gas Corporation purchases, transports and distributes natural gas to approximately 1.5 million residential, commercial, industrial and other customers in geographically diverse portions of Arizona, Nevada and California. Its service territories are centered in the fastest-growing region of the country. For more information about Southwest Gas, please visit www.swgas.com
This report contains statements which constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 (Reform Act). All such forward-looking statements are intended to be subject to the safe harbor protection provided by the Reform Act. A number of important factors affecting the business and financial results of the Company could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the impact of weather variations on customer usage, customer growth rates, natural gas prices, the effects of regulation/deregulation, the timing and amount of rate relief, changes in gas procurement practices, changes in capital requirements and funding, the impact of conditions in the capital markets on financing costs, acquisitions, and competition.
SOURCE Southwest Gas Corporation