CorEnergy today announced that it has entered into a definitive agreement to acquire the ownership and operations of the MoGas Pipeline System for $125 million in cash (the “Acquisition”). This 263-mile pipeline is a critical supplier of natural gas in and around the St. Louis region and to small municipalities throughout central Missouri.
CorEnergy intends to finance the acquisition cost with a combination of borrowings under its credit facility and with proceeds of our simultaneously announced public offering of common stock.
Key data points: The growth forecast = 5.0% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in tight gas market to 2031 by type (processed tight gas and unprocessed tight gas), application (residential, commercial, industrial production, power generation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesThe key characteristics of the MoGas Pipeline System include:
“We are pleased to add an interstate pipeline to our diversified portfolio of infrastructure assets used by utilities, storage terminal operators, and natural gas producers,” said David Schulte, Chief Executive Officer of CorEnergy. “Our Board of Directors has confirmed its intent to increase the dividend from $0.130 to $0.135 for the quarter ended March 31, 2015 (or $0.54 cents per share annualized) based upon management’s expectation that the increase is sustainable.”
