March 29, 2017 2:11 PM ET

Gas Utilities

Company Overview of New Mexico Gas Company, Inc.

Company Overview

New Mexico Gas Company, Inc. supplies natural gas to residential, commercial, and transportation customers in New Mexico. The company maintains natural gas pipelines. It also provides customer support, emergency disconnect, change of mailing address or phone, and online letter of credit services. The company was incorporated in 2008 and is based in Albuquerque, New Mexico. New Mexico Gas Company, Inc. operates as a subsidiary of New Mexico Gas Intermediate, Inc.

1625 Rio Bravo South West

Suite 27

Albuquerque, NM 87105

United States

Founded in 2008

Phone:

505-697-3335

Fax:

505-697-4494

Key Executives for New Mexico Gas Company, Inc.

President
Age: 50
Chief Executive Officer of TECO Energy and President of TECO Energy
Age: 60
Vice President of Customer and Support Services
Compensation as of Fiscal Year 2016.

New Mexico Gas Company, Inc. Key Developments

New Mexico Gas Co. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015

New Mexico Gas Co. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2015. The company reported fourth-quarter net income of $13.1 million, compared with $11.4 million in the 2014 period. Results reflected the benefit of 5% higher heating degree days, 0.8% higher average number of customers, and lower operating and maintenance expenses from acquisition synergies and a focus on cost control. The company reported full-year 2015 net income of $24.1 million. Results reflected customer growth of 0.7% and much milder than normal winter weather in the first quarter partially offset by colder fourth quarter 2015 weather that resulted in degree days 5.5% below normal but 1.4% above 2014.

New Mexico Gas Co. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Depreciation Guidance for 2016

New Mexico Gas Co. reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenues of $43.7 million compared with $16.2 million for the same period last year. Net loss from continuing operations was $2.8 million compared with $0.9 million for the same period last year. Results reflected the benefit of 0.8% customer growth, and lower operating and maintenance expenses from acquisition synergies and a focus on cost control. For the nine months, the company reported total revenues of $216.7 million compared with $16.2 million for the same period last year. Net income from continuing operations was $11.0 million compared with net loss from continuing operations $0.9 million for the same period last year. Net income was $11.0 million compared with net loss $0.9 million for the same period last year. For 2016, the company expected depreciation expense is expected to increase from normal additions to facilities to safely and reliably serve customers.

New Mexico Gas Company, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

New Mexico Gas Company, Inc. reported earnings results for the second quarter and six months ended June 30, 2015. The company reported second-quarter 2015 net loss of $0.1 million. For the six months, net income was $13.8 million.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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