This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Enserco Energy Signs Long-Term Agreement With Dorchester Coal Company

DENVER, Sept. 12, 2011 /PRNewswire/ -- Enserco Energy Inc. announced today that it has entered into a long-term agreement with Dorchester Coal Company, L.P. The agreement provides Enserco the exclusive rights to acquire and market all coal acquired or produced by Dorchester in eastern Kentucky and preferential access to Dorchester's Ivel preparation plant.  

"We are very pleased to have completed this agreement with the Dorchester Coal Company," said Jeffrey D. Price, managing director of Enserco's Coal marketing and trading group. "Their Ivel Plant is strategically located in the heart of central Appalachia and provides Enserco with an excellent competitive position as we strengthen our customer base and increase our physical coal sales throughout the U.S. In addition, we will have a greater opportunity to serve international markets through more economical transportation options to ports in the East and Gulf Coast."  

"We look forward to working with an experienced organization that has proven marketing capabilities and strong customer relationships," said John P. Baugues Jr., president of Dorchester Coal Company.

Dorchester Coal Company acquired the rights to the Ivel preparation plant in Floyd County, Kentucky in 2010. The plant has a 650-ton-per-hour capacity with 120-rail car, four-hour load out on the CSX rail line as well as truck delivery capabilities. The plant can process as much as 250,000 tons of coal per month. It will primarily target the 12,500-Btu-low-sulfur market segment through the use of its own, as well as third-party, production from mining operations in the area. Output of the plant will also include stoker quality coal.  

Enserco Energy became a leading marketer of western U.S. coal in June 2010 and was the first to export Powder River Basin coal out of the Ridley Terminal in British Columbia, Canada, in early 2011.  Enserco recently expanded its coal business, which includes the sourcing, transporting and storing of physical coal, into the Illinois Basin and Central Appalachian coal producing regions.

Enserco Energy Inc.

Enserco Energy Inc., a subsidiary of Black Hills Corp. (NYSE: BKH), specializes in the optimization of energy assets in the United States and Canada. More than 60 energy professionals are responsible for transactions in the wholesale marketing and trading of natural gas, crude oil, coal and power and environmental products. Black Hills Corp. — a diversified energy company with a tradition of exemplary service and a vision to be the energy partner of choice — is based in Rapid City, S.D., with corporate offices in Denver and Papillion, Neb. Black Hills Corp. serves 762,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming, and its non-regulated businesses generate wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills' 2,100 employees partner to produce results that improve life with energy. More information is available at www.blackhillscorp.com.

Dorchester Coal Company

Dorchester Coal Company is a diversified U.S. based company located in Knoxville, TN.  The company controls over 558 million tons of estimated reserves in three of the five top coal-producing states in the U.S. including Kentucky, Montana and Pennsylvania.  The company is seeking additional expansions in Illinois and Colorado.  Production is expected to exceed 2.5 million tons in 2012 and 6.0 million tons in 2013.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including statements regarding the partnership providing a competitive position as we strengthen our customer base and increase our physical coal sales throughout the U.S., the increased opportunity to serve international markets through more economical transportation options to ports, and the amount of coal produced and processed, are forward-looking statements. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including the factors discussed above, the risk factors described in Item 1A of Part I of our 2010 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.  New factors that could cause actual results to differ materially from those described in forward-looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs