May 24, 2016 8:50 AM ET

Gas Utilities

Company Overview of Roanoke Gas Company

Company Overview

Roanoke Gas Company provides natural gas to customers in Virginia. It also offers natural gas furnaces, natural gas water heaters, gas dryers and ranges, gas logs and space heaters, gas generators, gas grills, and gas lights. In addition, the company provides natural gas heating systems, natural gas cooling/refrigeration systems, food service systems, natural gas power production systems, and natural gas vehicles for commercial and industrial applications. Roanoke Gas Company was formerly known as Roanoke Gas Light Company and changed its name to Roanoke Gas Company in 1939. The company was founded in 1883 and is based in Roanoke, Virginia. Roanoke Gas Company operates as a subsidiary of RGC...

519 Kimball Avenue

Roanoke, VA 24016

United States

Founded in 1883

Phone:

540-777-4427

Fax:

540-777-7952

Key Executives for Roanoke Gas Company

Chief Executive Officer and President
Age: 55
Vice President of Operations
Age: 50
Chairman, Chairman of RGC Resources, Inc, Chief Executive Officer of RGC Resources, Inc and President of RGC Resources, Inc
Age: 61
Compensation as of Fiscal Year 2015.

Roanoke Gas Company Key Developments

Roanoke Gas Company Enters into New Revolving Line of Credit Note

On March 31, 2016, Roanoke Gas Company entered into a new Revolving Line of Credit Note in the original principal amount of $24,000,000 in favor of Wells Fargo Bank, N.A. This Note replaces the Revolving Line of Credit Note dated March 31, 2015 in the original principal amount of $24,000,000. The new Note expires on March 31, 2017. The purpose of the Note is to provide working capital financing for Roanoke's operations and bridge financing for its pipeline replacement program. This Note provides for a variable interest rate based upon 30-day LIBOR and multiple-tier borrowing limits to accommodate seasonal borrowing demands. The Note provides for borrowing limits that range from $10,000,000 to a maximum of $24,000,000 during the term of the Note. In connection with the Note, the company entered into a new Credit Agreement that replaces the prior agreement dated March 31, 2015. The new Credit Agreement maintained much of the same provisions as contained in the prior credit agreement in addition to the updated limits related to the new Note.

Mountain Valley Pipeline, LLC to Provide Natural Gas Service to Virginia Communities Through Partnership with Roanoke Gas

Mountain Valley Pipeline, LLC and RGC Midstream, LLC announced their intent to deliver natural gas to several Virginia communities along the proposed Mountain Valley Pipeline (MVP) route. As part of the agreement, RGC Midstream, LLC, will acquire a 1% ownership interest in Mountain Valley Pipeline, LLC, which is a joint venture between EQT Midstream Partners, LP and affiliates of NextEra Energy Inc.; WGL Holdings Inc.; and Vega Energy Partners Ltd. In addition, Roanoke Gas Company will become a shipper on the pipeline in order to supply and expand its southwest Virginia customer base.

RGC Resources, Inc. and Roanoke Gas Company Announce Retirement of Dale L. Parris as Vice President

On April 13, 2015, Ms. Dale L. Parris, formerly Dale P. Lee, retired following 17 years of service to the RGC Resources, Inc. and its subsidiary, Roanoke Gas Company. Ms. Parris had previously served as the Company's Secretary and at the time of her retirement was serving as Vice President of Roanoke Gas Company. Ms. Parris' duties have been assumed by other members of the management team.

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