Atmos Energy 2013 Annual Report Download - page 12

infrastructure, transitioning systems and
integrating new customers. It also had
a reputation for a sound culture and a
deep commitment to its employees.
Acquiring the TXU Gas assets in
2004 was the largest acquisition the
company had made; it doubled our size.
It was exciting because we acquired
outstanding assets, extremely talented
employees and the opportunity to serve
550 additional communities in Texas
as well as Dallas, the city where we are
headquartered.
You also were successful in achieving
timely recovery in rates for major
capital investments and decoupling
the company’s rates from its customers’
throughput. Why were those goals
so important?
Many companies develop complex,
even overreaching, strategies. Why
has Atmos Energy been so focused on
the natural gas utility business?
We’ve stuck to our knitting. We’ve had a
clear strategic and tactical path as to what
we need to get done. We’ve stayed focused
on what we know, with our eye on the
ball. We’ve gotten very good at it, and
we’re improving our game all the time.
A highlight of your tenure was acquir-
ing the distribution and pipeline assets
of TXU Gas. That acquisition nearly
doubled the size of Atmos Energy
overnight. What gave you the confi-
dence to do so big a deal?
e vision of Charlie and the board was
a clear expectation that the company
would grow through acquisitions. As
a result, Atmos Energy made 10 major
acquisitions. Each one added growth and
diversity and expanded the foundation
to make succeeding acquisitions. e
company became very good at managing
2
10
ABOVE: Bob Best, one of the natural
gas industry’s leading advocates,
testified in 2000 at a U.S. Senate
hearing. As CEO of Atmos Energy,
he distinguished himself by serving
as chairman of the American Gas
Association, American Gas Founda-
tion and Southern Gas Association.
Kim Cocklin has observed, “Bob is a
missionary for natural gas.”
RIGHT: Charlie Vaughan moved the
company’s headquarters to Dallas
in 1986, but it wasn’t until 2004,
when Atmos Energy acquired the
distribution and transmission assets
of TXU Gas, that it began serving
the Dallas-Fort Worth Metroplex, the
country’s fourth-largest metropolitan
area. The acquisition of TXU Gas
assets made Atmos Energy one of the
largest natural gas distributors in the
United States.
“ Americans finally are
coming around to real-
ize how energy efficient
and environmentally
beneficial natural gas
is for the country.”
—ROBERT W. BEST