Energy, Inc.'s (NASDAQ: EGAS) subsidiary Energy West, Inc., has acquired about 83% of the outstanding shares of Cut Bank Gas Company. The stock purchase agreement with certain shareholders of Cut Bank Gas was to acquire their shares for a purchase price of approximately $500,000, paid in shares of common stock. 56,900 shares of common stock was offered in consideration for the 83% interest and Energy West is actively working to acquire the remaining 17% of the outstanding shares.
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About Energy, Inc.
Energy, Inc. distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 26 billion cubic feet of natural gas to approximately 37,000 customers through regulated utilities operating in Montana, Wyoming, North Carolina and Maine. The company markets approximately 2.3 billion cubic feet of natural gas to commercial and industrial customers in Montana and Wyoming on an unregulated basis. The company also has a majority ownership interest in 160 natural gas producing wells and gas gathering assets. In addition, the company owns the Shoshone interstate and the Glacier gathering pipelines located in Montana and Wyoming. The company's Montana public utility was originally incorporated in 1909 and is headquartered in Great Falls, Montana.
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