HOUSTON – November 3, 2011 -- CenterPoint Energy Services, Inc. (CES), an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), has acquired Asgard Energy, LLC (Asgard) effective November 1.
Asgard, headquartered in Denver, Colo. is a natural gas marketing company that supplies natural gas to commercial, industrial, agricultural and residential customers in five states including Colorado, Kansas, Nebraska, Wyoming and West Virginia.
CES is CenterPoint Energy’s non-regulated energy marketing group, providing competitively priced natural gas along with related energy management services to commercial, industrial and wholesale customers located primarily in the eastern half of the United States.
“The acquisition of Asgard is a natural extension of our geographical footprint and part of our strategy to expand into the Rockies market,” said Eric Sullivan, vice president of Marketing for CES. “Additionally, this will allow us to diversify and expand our expertise into residential choice markets.”
The acquisition includes more than 1,400 diverse large volume commercial and industrial customers and 13,000 individual accounts in the SourceGas Choice program in Nebraska and Wyoming. When combined with its existing portfolio, the Asgard acquisition enhances CenterPoint Energy’s position as a major U.S. energy supplier by expanding its reach into new markets.
“We’re excited by this opportunity and believe CenterPoint Energy’s financial strength and reputation for knowledgeable, personal service will position us to succeed in this market,” added Sullivan.
CES will retain all Asgard employees and provide service to its new customers from a Denver, Colo. office.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Assets total nearly $21 billion. With about 8,800 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the Web site at www.CenterPointEnergy.com.