Questar Gas Agrees to Acquire Eagle Mountain City's Natural Gas System
SALT LAKE CITY--(BUSINESS WIRE)--
Questar Gas Company, subsidiary of Questar Corporation (NYSE:STR), has
reached an agreement with Eagle Mountain to purchase the municipality's
natural gas system, contingent on meeting the purchase-agreement terms.
"We're pleased to have this agreement with Eagle Mountain," said Craig
Wagstaff, Questar Gas executive vice president and COO. "Located
southwest of Salt Lake City, this municipal natural gas system serves
more than 6,000 homes in one of Utah's fastest-growing areas. The
purchase will provide Questar Gas with operational advantages and a good
return on our investment."
Questar Gas has been in discussions with city leaders for about a year.
The company expects to complete the purchase by the end of the year.
Eagle Mountain incorporated in 1996, when the city's population was 250.
As the state's third-largest city geographically - 44 square miles -
Eagle Mountain boasts 24,000 residents and lots of space for growth. The
gas system is about 15 years old and consists of six miles of steel
high-pressure pipeline and 120 miles of intermediate high-pressure main
lines and service lines.
About Questar Corporation
Questar is a Rockies-based integrated natural gas company with an
enterprise value of about $5.6 billion, operating through three
• Questar Gas Company provides retail natural gas distribution in
Utah, Wyoming and Idaho;
• Wexpro Company develops and produces natural gas from
cost-of-service reserves for Questar Gas customers; and
• Questar Pipeline Company operates interstate natural gas
pipelines and storage facilities in the western U.S. and provides other
Media: Darren Shepherd, 801-324-5167
Tony Ivins, 801-324-5218
Source: Questar Corporation
News Provided by Acquire Media