Black Hills Energy Buys Out SourceGas For $1.89 Billion

•  SourceGas is now Black Hills Energy, as Black Hills today announced its acquisition of SourceGas for 
• $1.89 billion.


• ​The sale includes the assumption of $760 million of debt. SourceGas is a natural gas utility serving 429,000 customers in Arkansas, Colorado, Nebraska and Wyoming. 

“Black Hills Energy is excited to serve our new customers with safe, reliable energy and to maintain strong local ties that benefit the communities where we live and work,” said Jeff Sylvester, vice president of operations for Black Hills Energy in Nebraska.  “We look forward to putting our company’s 130-year history of utility expertise and exceptional p erformance levels to good use for our 298,000 natural gas customers in 294 Nebraska communities.”
 
The former SourceGas will immediately begin operating under the Black Hills Energy name. Customers should continue to use SourceGas contacts and locations for bill payment, service questions and emergencies. The customer service and emergencies number remains 800-563-0012.
 
Beginning in March, SourceGas customers will start to see the Black Hills Energy logo alongside the SourceGas logo on their bills and the new customer website, www.SourceGasIsBlackHills.com  while the companies integrate employees and customer service systems. The Black Hills Energy logo will replace the SourceGas logo on buildings, company vehicles, employee uniforms and more.
 
Black Hills Energy will use television, radio, print, electronic media, bill inserts, newsletters, advertisements and more to keep customers informed. 

“We look forward to delivering efficient energy services that meet the region’s current and future energy needs,” Sylvester said. “We’re committed to living our mission of improving life with energy. Our strong local partnerships benefit the communities we serve through economic development initiatives, charitable contributions, sponsorships and employee participation.”
 
Black Hills Energy now serves more than 1.2 million natural gas and electric utility customers in nearly 800 communities in eight Rocky Mountain and Midcontinent states, including its newest market, Arkansas. The company announced in July 2015 that it was the successful bidder to purchase SourceGas from investment funds. The purchase was approved by the Nebraska Public Service Commission and the utility commissions in Arkansas, Colorado and Wyoming.

​“Their approval allows us to make this transition as smooth as possible for our new customers and employees,” Sylvester said.