SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: July 25, 1997
BLACK HILLS CORPORATION
State of South Dakota File Number 1-7978 IRS Number 46-0111677
625 Ninth Street
Rapid City, South Dakota 57709
Registrant's telephone number (605) 348-1700
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Item 5. OTHER EVENTS
BLACK HILLS CORPORATION PURCHASES ASSETS OF WICKFORD ENERGY
MARKETING, L.C. AND WICKFORD ENERGY MARKETING CANADA COMPANY
Black Hills Corporation announced today it has purchased the
assets of Jomax Partners, L.P., as successor to and survivor of
Wickford Energy Marketing, L.C., and Wickford Energy Marketing
Canada Company. Wickford is a "niche" wholesale natural gas and
crude oil marketing company located in Houston, Texas with
expertise in Gulf Coast and Canadian supply, targeting the Midwest
and East Coast markets.
The existing executive management team will be retained to
manage the new company, Wickford Energy Marketing, Inc. with Mike
Jones as President, W. Keith Maxwell as Executive Vice
President-Gas Operations, Scott Bormaster as Vice President-Crude
Oil and Todd Gibson as Vice President and Treasurer. Daniel P.
Landguth, Chief Executive Officer of Black Hills Corporation,
stated, "We are excited to add the Wickford management talent and
expertise to Black Hills Corporation's family of companies. This
acquisition combined with our start-up marketing company, Enserco
Energy Inc., will expand our array of energy products and services.
The acquisition is consistent with our strategic plan to expand the
Company's operations into other regions. Wickford Energy
Marketing, Inc., located in Houston, Texas, the energy capital of
North America, is expected to generate other opportunities for us
in other energy-related investments."
"Energy marketing companies are high sales, low margin
businesses. This acquisition has the potential of doubling or even
tripling the Company's consolidated revenues," said Landguth,
"however the impact to consolidated earnings is expected to be in
the three to five percent range, depending on market conditions."
The above statement contains forward looking statements that
are subject to certain risks, uncertainties and assumptions.
Actual results may vary materially depending on many factors
including, but not necessarily limited to, market conditions,
general economic conditions and business competitive conditions in
the energy industry.
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Black Hills Corporation is an energy company that supplies
electric utility service to a 9,300 square-mile area in western
South Dakota, northeastern Wyoming, and southeastern Montana;
engages in the mining and sale of coal from its mine located near
Gillette, Wyoming; produces, explores, and operates oil and gas
interests located in the Rocky Mountain region, Texas, and
California; and markets natural gas, electricity, and related
services to customers in the Rocky Mountain region.
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
BLACK HILLS CORPORATION
By /s/ Roxann R. Basham
Roxann R. Basham, Corporate
Secretary and Treasurer
Dated: July 25, 1997