View:
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
April 6, 2001
(Date of earliest event reported)
BLACK HILLS CORPORATION
(Exact name of Registrant as specified in its charter)
South Dakota 333-52664 46-0458824
(State of Incorporation) (Commission File No.) (IRS Employer
Identification Number)
625 Ninth Street
P. O. Box 1400
Rapid City, South Dakota 57709
(Address of principal executive offices)
(605) 721-1700
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address if changed since last report)
Item 5. Other Events.
A copy of the Registrant's press release dated April 6, 2001, is
attached as an exhibit hereto and incorporated herein by reference .
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99 Press release dated April 6, 2001, issued by the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BLACK HILLS CORPOARTION
By: /s/ Roxann R. Basham
Roxann R. Basham
Vice President - Controller
and Assistant Secretary
Date: April 9, 2001
Exhibit Index
Exhibit
Number Description
- ------- -----------
99 Press release dated April 6, 2001, issued by the Registrant.
EXHIBIT 99
FOR IMMEDIATE RELEASE
BLACK HILLS CORPORATION
PO Box 1400 Contact: Mark T. Thies Dale T. Jahr
Rapid City, SD 57709 Sr. Vice President Director of
Phone: (605) 721-1700 and CFO Investor Relations
Fax: (605) 721-2599 (605) 721-2331 (605) 721-2326
www.blackhillscorp.com djahr@bh-corp.com
Black Hills Corporation Announces Settlement with PacifiCorp
o Settlement agreement resolves coal contract dispute
o New agreements provide for expanded coal sales and multi-year contract
extension
RAPID CITY, SD--April 6, 2001--Black Hills Corporation (NYSE: BKH)
today announced that its coal mining subsidiary Wyodak Resources Development
Corporation has reached a settlement with PacifiCorp whereby ongoing litigation
between the parties related to coal sales for PacifiCorp's Wyodak Power Plant
has been withdrawn. A new coal supply contract for the Wyodak Plant and other
agreements have been executed as a result of the settlement.
The new coal supply contract for PacifiCorp's Wyodak Plant extends the
term of the contract from 2013 to 2022. Under the contract, Wyodak Resources
will receive a lump sum cash payment, while the coal sale price to PacifiCorp
will be reduced and PacifiCorp's minimum annual coal purchase obligation will
increase. Under the terms of a new coal sales agreement, Wyodak Resources will
also sell additional coal for delivery to other PacifiCorp power plants from
late 2001 through 2003 and Wyodak Resources will have an option to sell
additional coal to PacifiCorp through 2010.
Black Hills Corporation (www.blackhillscorp.com) is a diverse energy
and communications company with three business groups: Black Hills Energy
Ventures, the independent energy group which generates electricity and produces
and markets natural gas, oil and coal; Black Hills Power, an electric utility
serving western South Dakota, northeastern Wyoming and southeastern Montana; and
Black Hills FiberCom, a broadband communications company offering bundled
telephone, high speed internet and cable entertainment services.
The above information includes "forward-looking statements" as defined
by the Securities and Exchange Commission. These statements concern the
Company's plans, expectations and objectives for future operations. All
statements, other than statements of historical facts, included above that
address activities, events or developments that the Company expects, believes or
anticipates will or may occur in the future are forward-looking statements. The
words believe, intend, anticipate, estimate, aim, project and similar
expressions are also intended to identify forward-looking statements. These
forward-looking statements may include, among others, such things as expansion
and growth of the Company's business and operations; future financial
performance; future acquisition and development of power plants; future
production of coal, oil and natural gas; reserve estimates; future
communications customers; and business strategy. These forward-looking
statements are based on assumptions which the Company believes are reasonable
based on current expectations and projections about future events and industry
conditions and trends affecting the Company's business. However, whether actual
results and developments will conform to the Company's expectations and
predictions is subject to a number of risks and uncertainties which could cause
actual results to differ materially from those contained in the forward-looking
statements, including the following factors: prevailing governmental policies
and regulatory actions with respect to allowed rates of return, industry and
rate structure, acquisition and disposal of assets and facilities, operation and
construction of plant facilities, recovery of purchased power and other capital
investments, and present or prospective wholesale and retail competition;
changes in and compliance with environmental and safety laws and policies;
weather conditions; population growth and demographic patterns; competition for
retail and wholesale customers; pricing and transportation of commodities;
market demand, including structural market changes; changes in tax rates or
policies or in rates of inflation; changes in project costs; unanticipated
changes in operating expenses or capital expenditures; capital market
conditions; counterparty credit risk; technological advances; competition for
new energy development opportunities; and legal and administrative proceedings
that influence the Company's business and profitability. Any such
forward-looking statements should be considered in conjunction with Black Hills
Corporation's most recent annual report on Form 10-K and its interim quarterly
reports on Form 10-Q on file with the Securities and Exchange Commission. New
factors that could cause actual results to differ materially from those
described in forward-looking statements emerge from time to time, and it is not
possible for the Company to predict all such factors, or to the extent to which
any such factor or combination of factors may cause actual results to differ
from those contained in any forward-looking statement. The Company assumes no
obligation to update publicly any such forward-looking statements, whether as a
result of new information, future events, or otherwise.
- 0 -