High Plains Gas Announces Completed Acquisition of Miller Fabrication, LLC
PR Newswire
GILLETTE, Wyo., Nov. 23, 2011
GILLETTE, Wyo., Nov. 23, 2011 /PRNewswire/ -- High Plains Gas, Inc. HPGS announced that terms of an agreement to acquire Miller Fabrication, LLC, a Douglas, WY-based facility construction company have been satisfied and the transaction is complete. The transaction, finalized on November 18, 2011, calls for the complete purchase of Miller Fabrication by HPGS, in exchange for cash and common stock.
Ty Miller, President of Miller Fabrication, said, "We are genuinely thrilled about the opportunity to be a part of High Plains Gas. We can reasonably expect to achieve significantly accelerated and sustainable growth by combining the companies and focusing on our strengths. I'm confident that the synergies created by this merger will continue to move us closer to our goal of being a regional leader in the energy construction industry."
Brandon Hargett, CEO of HPGS, commented, "We are excited to welcome the Miller Fabrication team into High Plains Gas. This acquisition immediately broadens our rapidly burgeoning position in the energy construction industry, while also diversifying our revenue streams. High Plains currently possesses and operates the facilities and infrastructure that will augment Miller Fabrication's ability to continue its growth well into 2012 and beyond by allowing us to take on larger projects."
About Miller Fabrication, LLC
Miller Fabrication was founded by Levi and Ty Miller in 2006. Miller Fabrication specializes in facility construction and maintenance within the energy construction industry. The Company has completed projects for regional and national firms within the energy industry.
About High Plains Gas
High Plains Gas, Inc. is a Gillette, Wyoming based energy company actively engaged in the acquisition, development and production of natural gas primarily in the Powder River Basin. The Company has assets of approximately 1614 wells and over 155,000 net acres. In 2011, the Company formed a subsidiary, HPG Services, LLC, focused on providing construction and maintenance services to the energy industry, primarily in the Western United States. For additional information on HPGS, please visit the Company's website at http://www.highplainsgas.com/.
Safe Harbor
Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent filings made with the US Securities and Exchange commission, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
Contact: Tim Ondrak, 307-686-5030
SOURCE High Plains Gas, Inc.
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