Inergy
Inergy, L.P. (NYSE: NRGY) is an American supplier of propane based in Kansas City, Missouri that claims to be the fourth-largest propane retailer in the United States. Serving 800,000 customers in 28 states.[1][2] It is also a major salt miner via its U.S. Salt LLC subsidiary with its salt caverns later being used for natural gas storage.
It was founded in 1998 by its current president and CEO John J. Sherman after he sold his start up propane marketing company LPG Services Group to Dynegy.[3] As of November 2010, the company had acquired 89 businesses – mostly regional and local propane distributors.[4]
It operates 28 states and employs approximately 3,000 associates and has 700,000 customers. .[1]
In August 2010 it acquired its parent Inergy Holdings which had also traded on the New York Stock Exchange under the ticker symbol NRGP in a deal valued at $2 billion with the resulting company being reported to be worth $6 billion. Prior to the acquisition both companies shared the same offices in Kansas City.[5]
Midstream operations
Its midstream operations include
- West Coast Midstream Operations near Bakersfield, California which provides 25 million cu ft (710,000 m3) per day natural gas processing as well as a rail and truck terminals.[6]
- Tres Palacios Gas Storage, Matagorda County, Texas adjacent to the Eagle Ford Formation which has 38.4 billion cu ft (1.09 billion m3) of working gas[7][8]
- Steuben Gas Storage, Steuben County, New York, 6.2 billion cu ft (180 million m3) of gas storage[9][10]
- Thomas Corners Gas Storage Steuben County, New York, 7.0 billion cu ft (200 million m3) of storage[11][12]
- Finger Lakes LPG Storage, Steuben County with 1.7 million bbl (270,000 m3) LPG storage and Watkins Glen, New York facility 5 million bbl (790 thousand m3) of LPG storage.[13]
- U.S. Salt Gas Storage Development, Watkins Glen, 5 to 10 billion cu ft (140 to 280 million m3) of natural gas storage capacity in salt caverns.[14]
- Stagecoach Storage - 26.25 billion cu ft (743 million m3) of storage in the Marcellus Formation[15]
- U.S. Salt LLC Operations, Watkins Glen on Seneca Lake, New York - sells 300,000 short tons (270,000 metric tons) of salt each year and has 40 million bbl (6.4 million m3) of cavern capacity for gas[16][17]
Retail propane services
The company has purchased various regional or local propane operations which continue to operate under their original names including:[18]
- Arrow Gas
- Blue Flame
- Blue Ridge Propane
- Blu-Gas
- Bradley Propane
- Burnwell Gas
- Country Gas
- Delta Propane
- Dowdle Gas
- Eastside Gas
- Farm & Home Oil Company
- Gaylord Gas
- Hancock Gas Service
- Highland Propane
- Homestead Propane
- Hoosier Propane
- Independent Propane Company
- Jenkins Gas
- Legacy Propane
- Liberty Propane
- Maingas
- McCracken Propane
- MGS Propane
- Modern Gas
- Moulton Gas Service
- Northwest Energy
- Ohio Gas and Appliance
- Pearl Gas
- Pennington Gas Service
- Permagas
- ProGas
- Pyrofax Energy
- Rocky Mountain Propane
- Shirley Bottle Gas
- Silgas
- Southeast Propane
- Tru-Gas
- United Propane
- Yates Gas
References
- Inergy 2009 Report
- "Propane Marketing and Distribution". Inergy, L.P. Retrieved 2010-11-23.
- "Great Plains Energy Inc. - Investor Relations - News Release". Phx.corporate-ir.net. 2009-07-30. Retrieved 2010-11-23.
- Kansas City Business Journal (2010-11-19). "Inergy subsidiary expands propane operations with two acquisitions | Kansas City Business Journal". Bizjournals.com. Retrieved 2010-11-23.
- "Inergy LP to buy Inergy Holding in $2.1 billion deal". Reuters. 2010-08-09. Retrieved 2010-11-23.
- "NGL Marketing and Distribution". Inergy, L.P. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "Tres Palacios Gas Storage LLC - Informational Postings". Gasnom.com. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "Informational Postings". Steuben Gas Storage. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "Informational Postings". Thomas Corners Gas Storage. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "The Stagecoach Natural Gas Storage Facility - Informational Postings". Stagecoachstorage.com. Retrieved 2010-11-23.
- "Inergy Midstream | Energy Storage and Transportation". Inergylp.com. Retrieved 2010-11-23.
- "US Salt LLC". US Salt LLC. 2008-12-05. Retrieved 2010-11-23.
- "Energy Storage & Transportation and Propane Marketing & Distribution". Inergy, L.P. Retrieved 2010-11-23.