Atmos Energy 2001 Annual Report Download - page 26

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20
We concluded fiscal 2001 by announcing in September
our ninth acquisition since 1983. Atmos will acquire
Mississippi Valley Gas Company, Mississippi’s largest
gas utility.
Mississippi Valley Gas will expand our utility
operations into 12 states and will increase our customer
base to nearly 1.7 million customers, making Atmos
the country’s third-largest pure natural gas utility.
Atmos will gain a successful utility, which operates
efficiently, offers some of the lowest rates in the
Southeast and ranks high in customer satisfaction.
The utility serves 144 communities and has a rate
structure
designed to mitigate
the
effect of weather on earn-
ings, provide stable cash flow
and reward the utility for
excellent customer service.
Atmos will acquire Missis-
sippi Valley Gas for $75 million
in cash and $75 million in
Atmos common stock. We also
will assume Mississippi Valley
Gas’ outstanding debt, net of
working capital, of about $45
million. We expect to complete
the acquisition in fiscal 2002.
Continued Growth
with Mississippi’s
No. 1 Gas Company
Our Spirit of. . .
Dave Doggette, vice presi-
dent of Technical Services
for Western Kentucky Gas,
is an Eagle Scout and
scoutmaster for a new Boy
Scout program devoted to
high adventure activities,
such as rock climbing and
whitewater rafting.