(from www.sec.gov)
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Columbia Gas System Inc. |
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From the April 28, 1997 Washington Post
| '96 (in $ 000s) | % Change From '95 | |
| Revenue | 3,354,000 | 27.3 |
| Net Income | 221,600 | -- |
Description:
Columbia Gas System is a holding company that includes oil and natural gas production operations, interstate pipelines, local gas distribution companies, independent power production, national gas marketing, propane distribution and fuel management services. Its local gas distribution companies include Commonwealth Gas Services Inc. of Virginia, which serves Portsmouth, Lynchburg, Staunton, Herndon, Manassas and the Dulles area, and Columbia Gas of Maryland, which serves western Maryland.
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Columbia Gas moved in August to a temporary headquarters in Reston from Wilmington, Del. Earlier this month, they announced plans to build a four-story headquarters complex near Dulles International Airport. The company also began an expansion of pipeline and storage operations to provide faster service and increased supplies to customers, including Washington Gas Light Co.
The company began a venture with American Airlines' computer reservations subsidiary, SABRE, to develop an industry-wide computerized way to track and handle natural gas transmission transactions.
Columbia Gas is participating in pilot programs in three states in which natural gas customers may choose among alternative suppliers, and anticipates participating in a similar program in Virginia later this year. Earlier this month the company announced plans to build with three corporate partners a $600 million, 380-mile pipeline that would link the West with the Northeast.
Last year was the company's first full year of operations since it emerged from bankruptcy court protection in November 1995. Columbia had filed for bankruptcy protection in 1991 after it became locked into contracts to buy natural gas at above-market prices.
