Atmos Energy Corporation (NYSE:ATO) announced today that by the end of its fiscal year in September it will have spent more than $1.8 billion over the last three years to safeguard the communities it serves.
Most of those funds have helped modernize its natural gas delivery and support systems, including information technology, equipment, infrastructure and overall system integrity throughout its service area, according to Atmos Energy officials. They say spending levels are expected to continue in 2013.
“This has been the largest capital initiative in our company’s history,” said Marvin Sweetin, Atmos Energy Senior Vice President of Utility Operations. “By partnering with our state regulatory agencies and city and county governments, we have been able to make significant improvements to our infrastructure including the repair, replacement and rehabilitation of pipe throughout all 12 states we serve.”
Atmos Energy’s efforts to ensure continued safety and reliability has focused on a series of projects to include the replacement of cast iron, steel mains and vintage pipelines.“The largest of these projects is a steel service line replacement program,” said John Paris, Atmos Energy President of the Mid-Tex Division which serves North and Central Texas. The steel service line program replaces steel lines that were installed from the 1940s through the 1960s with ½-inch-to-2-inch polyethylene pipe in more than 40 cities throughout Texas. “This replacement program, approved by the Railroad Commission of Texas, is a large-scale initiative that benefits our customers,” said Paris. “The polyethylene pipe that we’re putting in the ground is a strong, technologically advanced pipe that’s durable but flexible, and easily connects to other equipment using the latest technology.” “This program is another step in our ongoing mission to operate one of the safest natural gas delivery systems in the nation,” Paris said. About Atmos Energy Atmos Energy Corporation, headquartered in Dallas, is one of the country’s largest natural-gas-only distributors, serving more than 3 million natural gas distribution customers in more than 1,600 communities in 12 states. Atmos Energy also provides natural gas marketing and procurement services to industrial, commercial and municipal customers primarily in the Midwest and Southeast and manages company-owned natural gas pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. For more information, visit www.atmosenergy.com. Atmos Energy can also be accessed through social media platforms such as Facebook, Twitter and YouTube.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV