Atmos Energy

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Atmos Energy
Type Public
Traded as NYSEATO
Industry Energy
Founded 1906
Headquarters Dallas, Texas
Products Natural gas
Revenue

Decrease $ 3.438 billion (FY 2012)

[1]
Operating income Increase $ 446.2 million (FY 2012)[1]
Net income Increase $ 216.7 million (FY 2012)[1]
Total assets Increase $ 7.496 billion (FY 2012)[1]
Total equity Increase $ 2.359 billion (FY 2012)[1]
Employees 4,759 (September 2012)[1]
Website www.atmosenergy.com

Atmos Energy Corporation, headquartered in Dallas, Texas, is one of the largest distributors of natural gas in the United States, serving about three million natural gas distribution customers in over 1,400 communities in eight states.[2] Atmos acquired TXU's natural gas and pipeline holdings in 2004.[3] The company began as Energas in 1983, a spinoff of the natural gas distribution division of Pioneer Corporation. In 1988, the company changed its name to Atmos and began trading on the New York Stock Exchange.[4] Atmos Energy is incorporated in Virginia and Texas.[2]

Origins[edit]

The origins of Atmos Energy come from Amarillo Gas Company which was founded by brothers Frank and J.C. Storm in 1906 [1]. It was founded in order to manufacture coal gas on the Texas frontier. In 1918, it discovered the largest natural gas field in the world, and hence subsequently Amarillo changed its focus to the production of natural gas. Two years later it delivered its first locally produced natural gas.

In 1924, Amarillo Gas, Amarillo Oil and other businesses became part of a new public utility holding company, Southwestern Development Company. Over the years, through various business combinations and mergers, the company became known as Pioneer Corporation, a large diversified West Texas energy company. In 1983, Energas, the natural gas distribution division of Pioneer, was spun off and became an independent, publicly held natural gas distribution company. In October 1988, Energas changed its corporate name to Atmos Energy Corporation and its stock began trading on the New York Stock Exchange under the ticker symbol ATO.[4]

Background[edit]

Atmos Energy, one of the largest natural gas distributors in the United States, delivers natural gas to about three million natural gas distribution customers in over 1,400 communities in eight states.[2]

Atmos Energy has grown from 279,000 customers in 1983 mainly by acquiring utility assets. Its most recent acquisition was the distribution and pipeline operations of TXU Gas Company in October 2004.[3] Atmos Energy is the largest natural gas utility in Texas. Atmos Energy is also the largest natural gas distributor in Louisiana and Mississippi.

The company markets natural gas supplies to industrial customers and municipalities in 22 states, arranges for gas transportation and management services and manages company-owned gas storage and pipeline assets, including one of the largest intrastate natural gas pipelines in Texas.

Environmental Record[edit]

Atmos Energy was awarded the "2005 Environmental Excellence New Technology Award" for their use of an air monitoring device that measured compounds in the air over a month-long remediation of a former manufacturing site. An invisible infrared beam was used to constantly monitor the compounds found in the air to help preserve safe air quality while the site was rehabbed.[5]

The Environmental Protection Agency awarded Atmos Energy a Continuing Excellence award for their improvement over a five year span for continual improvement in reducing emissions under the STAR program. The program is a "voluntary partnership between the EPA and the natural gas industry to encourage voluntary reductions in the emissions of methane." Atmos Energy reported the highest overall reduction in 2005 and currently "has the third highest cumulative reductions of all distribution partners." Their total reductions are equal to that of planting 347,000 acres (1,400 km2) of trees in one year, enough natural gas to heat 45,000 homes for one year or removing 231,000 cars from the road for one year.[6] These awards were, in part, due to the continuing devotion of Atmos Energy to replacing aging natural gas pipelines. By doing this they reduce the risk of methane leaks into the atmosphere.[7]

Charles K. Vaughan Center[edit]

Named after Atmos Energy's founding CEO, the Charles K. Vaughan Center is an 11-acre service/training facility located in Plano, Texas. The most visible aspect of the Vaughan Center is Gas City, an area constructed behind the main building that is designed to enable employees to practice and enhance their professional skills. Gas City was built to be a simulated community with houses, mini-apartments, commercial buildings along with city streets having natural gas buried utility infrastructure, and a short gas transmission pipeline with pig launchers.[8]

References[edit]

External links[edit]