Trading on the NASDAQ Global Market, Delta Natural Gas Company Inc. is a premier provider of natural gas services. Headquartered in Winchester, Kentucky, they serve the central and southeastern sections of the state. Founded in 1949, the company has facilitated growth through expansion and acquisitions. They gather, produce, distribute, store, and transport natural gas. The Company engages in weather-sensitive commercial and residential sales.
Delta Natural Gas Company operates in two business segments. Their Regulated segment sells and distributes natural gas to retail customers in 23 counties in Kentucky. This segment also transports gas to industrial customers in their system that purchase gas in the open market. In addition, they transport gas for local producers and other customers not on their distribution system.
Delta Natural Gas also has their Non-Regulated segment. The Non-Regulated segment purchases natural gas on the national market as well as from producers in Kentucky. They then resell this gas to industrial customers on their distribution system and to others not on this system. This business segment of Delta also produces natural gas that sells on the non-regulated market. Along with operating in their two segments, the Company has interests in oil and gas leases on 10,300 acres located in Bell, Knox, and Whitley counties in Kentucky.
With a current market capitalization of $75.06 million, Delta has approximately 38,000 customers in their portfolio. They own or lease 34,000 acres of land as well. They use 23,000 acres for production of natural gas and 11,000 acres for storage. Delta also operates 2,500 miles of pipeline.
For the year ended June 30, 2008 Delta’s earnings increased from $1.62 per common share in fiscal year 2007 to $2.08 per common share for 2008’s fiscal year. The Company continued to increase their transportation business and this led to their total throughput exceeding 20 billion cubic feet in 2008. Delta’s operating revenues for the year ended June 30, 2008 were $112,657,117 compared to $98,168,391 the previous year. Their net income was $6,829,868 compared to $5,298,347 a year earlier.
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