Gas Natural Inc.
TWST: Would you start with a brief introduction to Energy West, Inc., and Gas Natural, including some highlights from its history and then an overview of the company's primary operations?
Mr. Degenstein: Gas Natural (EGAS) is a holding company in that it holds a series of public utilities that provide natural gas to various customers in six different states. A little history of Gas Natural: the holding company was formed in 2009. Prior to that, it was a small group of utilities in Wyoming and Montana with about 36,000 customers. Today, we're approximately 70,000 customers. We've put together a growth strategy to build around our core expertise and acquire underperforming small utilities. So we expanded from Montana and Wyoming into the state of Ohio, the state of Maine, the state of North Carolina and the state of Pennsylvania. That makes up the six states that we operate utilities in today.
In addition, we have production and gathering pipelines in our nonregulated business unit. We also have two pipelines, of which one is FERC regulated.
However, Gas Natural is really defined by its natural gas distribution utilities. They are approximately 90% of net income, and approximately 96% of revenue. So our core business is defined by being a natural gas distributor in six different states.
TWST: You have mentioned the markets Gas Natural has expanded into. What are the remaining tenants of your growth strategy for those markets you're targeting, but haven't yet entered?