Woodward expands gas marketing operations in Kentucky
Woodward Marketing LLC, a unit of Atmos Energy Holdings Inc., Dallas, has acquired the gas marketing assets of Innovative Gas Services Inc. and the common stock of Southern Resources Inc. for $3 million in cash.
By the OGJ Online Staff
HOUSTON, Dec. 13 -- Woodward Marketing LLC, a unit of Atmos Energy Holdings Inc., Dallas, has acquired the gas marketing assets of Innovative Gas Services Inc. and the common stock of Southern Resources Inc. for $3 million in cash.
IGS and Southern Resources, gas marketers based in Owensboro, Ky., provide natural gas services to industrial and commercial manufacturing customers served by Williams' Texas Gas pipeline system.
The acquisition, combined with the recently completed acquisition from Kentucky Pipeline & Storage Co. Inc. of the 1.8 bcf of working capacity at the East Diamond storage facility plus associated pipelines, will increase Woodward's competitive position in Kentucky (OGJ Online, July 31, 2001).
"Utilizing the East Diamond storage assets affords Woodward Marketing the opportunity to solidify and expand its position as a principal provider on the Texas Gas system," said J.D. Woodward, Atmos' senior vice-president of nonutility operations.
Woodward now markets 190 Mcfd to customers in Kentucky.
