Natural Gas News – October 22, 2020
Gas South to buy Florida-based natural gas provider
One of the Southeast’s leading natural gas providers, Gas South, announced an acquisition Tuesday that could more than double its annual revenue.
Gas South will buy Florida-based Infinite Energy in a deal that the companies expect to close by the end of the year. The acquisition is subject to customary regulatory approvals. Gas South is a wholly owned subsidiary of Marietta-based Cobb EMC, one of the country’s largest electric cooperatives, and serves more than 300,000 customers across Georgia, Florida, North Carolina and South Carolina. Founded in Gainesville, Fla. in 1994 by co-CEOs Darin Cook and Rich Blaser, Infinite Energy is the largest natural gas marketer in the state. The deal adds approximately 125,000 new customers for Gas South and increases the company’s annual revenue to an estimated $1 billion. For more on this story visit bizjournals.com or
U.S. natgas on track for 20-month high as LNG exports rise, cold weather
U.S. natural gas futures gained over 4% and were on track for their highest close in 20 months on Tuesday on rising liquefied natural gas (LNG) exports and forecasts for colder weather and more heating demand over the next two weeks than previously expected. Front-month gas futures rose 11.9 cents, or 4.3%, to $2.914 per million British thermal units at 8:35 a.m. EDT (1235 GMT), putting the contract on track for its highest close since January 2019. Data provider Refinitiv said output in the Lower 48 U.S. states slipped to 88.4 billion cubic feet per day (bcfd) on Monday from a six-week high of 88.6 bcfd last week. For more on this story visit oilgandgas360.com or https://bit.ly/3jkGbjH