SemStream Completes Acquisition of Propane Assets

SemStream, L.P. announced its acquisition today of all of the propane assets of Energy West that are located in Arizona. SemStream’s intention to purchase the assets was initially announced in July 2006. It was approved by the Arizona Corporation Commission on March 20, 2007, and has an effective date of April 1, 2007. The acquisition is SemStream’s first in Arizona.
The acquisition adds to SemStream’s asset base a regulated underground pipeline system with 170 miles of pipe and approximately 300,000 gallons of bulk storage and related assets. The assets serve approximately 7,500 regulated customers in the Arizona communities of Payson, Pine and Strawberry. The acquisition also includes unregulated propane assets used in propane sales to rural areas adjacent to those communities. The unregulated business serves approximately 2,800 additional customers.

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