Black Hills Corporation is an integrated energy company that focuses on the production and distribution of electricity, coal, natural gas, energy, and crude oil. The company provides services to the Black Hills region and sells surplus power in wholesale markets. The company operates principally in the US.
The company through its subsidiaries, conducts its operations through the reportable segments: Gas Utilities, Electric Utilities, Oil and Gas, Mining, and Power Generation.
The Gas Utilities Segment consists of the operating results of BHC’s regulated natural gas utility subsidiaries in Arkansas, Colorado, Iowa, Kansas, Wyoming and Nebraska. The segment distribute and transport natural gas through its distribution network to approximately 1,030,800 natural gas utility customers in Arkansas, Colorado, Iowa, Nebraska, Kansas and Wyoming. Additionally, the segment sell temporarily-available, contractual pipeline capacity and gas commodities to other utilities and marketing companies, including the company’s affiliates.
The Gas Utilities own 4,585 miles of intrastate gas transmission pipelines and 40,044 miles of gas distribution mains and service lines. The segment also provides non-regulated services through Black Hills Energy Services, which has approximately 55,000 retail distribution customers in Nebraska and Wyoming providing unbundled natural gas commodity offerings under the regulatory-approved Choice Gas Program. In FY2016, the company sold and transported a total of 206.1 million dekatherms (Dth).
In FY2016, the Gas Utilities segment reported revenues of $838.3 million, which accounted for 53.3% of the company's total revenue.
Electric Utilities segment includes the operating results of the regulated electric utility operations of South Dakota Electric, Wyoming Electric and Colorado Electric, which supply regulated electric utility services to areas in South Dakota, Wyoming, Colorado and Montana.
The segment generates, transmits and distributes electricity to approximately 208,500 electric customers in South Dakota, Wyoming, Colorado and Montana. Electric Utilities own 941 megawatt (MW) of generation and 8,806 miles of electric transmission and distribution lines.
During FY2016, the segment generated and purchased a total of 6.6 million MW of electricity and sold a total of 6.6 million MW of electricity.
In FY2016, the Electric Utilities segment reported revenues of $664.3 million, which accounted for 42.2% of the company's total revenue.
BHC’s Oil and Gas segment, which is conducted through BHEP and its subsidiaries, engages in crude oil and natural gas exploration and production activities in Colorado, Louisiana, Montana, Oklahoma, New Mexico, North Dakota, Wyoming, Texas and California. The segment also focus on divesting non-core oil and gas assets and retaining those best suited to assist utilities with the implementation of cost of service gas programs.
As of December 31, 2016, the principal assets of the Oil and Gas segment included: operating interests in crude oil and natural gas properties, including properties in the San Juan Basin (with holdings primarily on the tribal lands of the Jicarilla Apache Nation in New Mexico and Southern Ute Nation in Colorado), the Powder River Basin (Wyoming) and the Piceance Basin (Colorado). The assets also include: non-operated interests in crude oil and natural gas properties, including wells located in various producing basins in several states; and a 44.7% ownership interest in the Newcastle gas processing plant and associated gathering system located in Weston County, Wyoming. The company also own natural gas gathering, compression and treating facilities, and water collection and delivery systems serving the operated San Juan and Piceance Basin properties and working interests in similar facilities serving the company’s Wyoming properties.
At the end of FY2016, BHC had total reserves of approximately 78 billion cubic feet equivalent (Bcfe), of which natural gas comprised 70%, crude oil comprised 17% and NGLs comprised 13%.
In FY2016, the Oil and Gas segment reported revenues of $34.1 million, which accounted for 2.2% of the company's total revenue.
The Mining segment, which is conducted through WRDC, engages in coal mining activities located near Gillette, Wyoming. The segment surface mine, process and sell primarily low-sulfur sub-bituminous coal at its coal mine near Gillette, Wyoming. It also sells the coal primarily under long-term contracts to mine-mouth electric generation facilities including the company’s own regulated and non-regulated generating plants.
In FY2016, the Mining segment reported revenues of $29.1 million, which accounted for 1.8% of the company's total revenue.
Power Generation segment, which is conducted through Black Hills Electric Generation and its subsidiaries, engages in independent power generation activities in Wyoming and Colorado. The segment produces electric power from its generating plants and sells the electric capacity and energy primarily to its utilities under long-term contracts.
In FY2016, the Power Generation segment reported revenues of $7.2 million, which accounted for 0.5% of the company's total revenue.
Scope of the Report
- About the Company - Historical Details, Current Ownership Structure and basic overview of Black Hills Corporation in terms of revenue, net income, and operating income.
- Financials - Details about Black Hills Corporation listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
- Company SWOT Analysis - Outlines Black Hills Corporation’s strengths, weaknesses, and opportunities and threats facing the company.
- Recent Developments - Showcases Black Hills Corporation’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
- Strategic Evaluation - Provides an overview of Black Hills Corporation’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
- What domain does Black Hills Corporation operate and what are key points about it?
- What is the product / service portfolio of Black Hills Corporation?
- How has Black Hills Corporation performed financially from the 2013?
- How does Black Hills Corporation rank among its peers in terms of revenue and market share?
- What are Black Hills Corporation strengths and weaknesses and what opportunities and threats does it face?
- What are Black Hills Corporation’s main growth strategies and how successful has the company been at implementing them?
- What is the in-house technical capability of Black Hills Corporation? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
7.1.1 Industry Snapshot
7.1.2 IT Spend
7.1.3 Key Information Technology Trends
7.2.1 IT Overview
7.2.2 Key IT Technologies
7.2.3 Recent IT Initiatives
7.2.4 IT Outsourcing Engagements
7.2.5 Key IT Management
7.2.6 CIO/CTO Profile
- About Us
- Contact Us
Fig.1: Company Snapshot
Fig.2: Locations Listing on Map
Table.1: Ownership Structure
Table.2: List of Competitors
Table.3: Annual Statements
Table.4: Key Financial Highlights
Table.5: Region-wise Breakdown
Table.6: Product/Services Overview
Table.7: Mergers & Acquisitions
Table.8: Partnerships, Collaborations & Joint Ventures
Table.9: New Product Launches
Table.10: Business Expansion / Divestment
Table 11: IT Budgets
Table 12: Key IT Management (CIO / CTO)
Table 13: IT Deals undertaken in the past years