Phoenix Gas Co history

By 1956, Southwest Gas counted 5,500 customers and had grown to more than $700,000 in annual revenues.

Southwest Gas moved its headquarters to Las Vegas in 1958, placing the company at the center of its three-state service area.

1961: James E. Acridge leases a small gasoline station in Glendale, Arizona, from Richfield Oil.

Laub served as the company's first president, holding that position until 1964.

Fully aware that he was 15 years ahead of the market, Acridge built his second self-serve unit in 1970.

The company had previously moved into the Colorado River region, with service to Bullhead City; in 1972, Southwest Gas extended its operations to Boulder City, next to the Hoover Dam, with the acquisition of Boulder Natural Gas Company.

In 1981 the major oil companies initiated a strategic campaign to squeeze out independent gas station entrepreneurs such as Acridge and reestablish themselves in markets from which they had long been absent.

Revenues grew to $611 million in 1985, and net income was also high, nearing $24 million.

The addition of the banking business helped raise Southwest Gas's revenues to more than $800 million by 1988.

1989: Company goes public with a listing on the New York Stock Exchange.

In 1993 the Travel Center alone reported that it pumped more than 20 million gallons of fuel.

A warming trend in the Southwest had been leading to milder winters in the past two decades; the winter of 1995 was particularly mild, cutting deeply into the company's sales.

Production of crude oil in the Four Corners region began declining in 1997, making it difficult for Giant to operate its two refineries at full capacity in a cost-efficient manner.

Also during 1998, around 50 of the company's service stations adopted a new, company-owned name, Mustang.

Through these and other moves, Giant Industries reduced its debt by about $83 million by late 2003. Its long-term debt jumped from $256.7 million at the end of 2001 to $398.1 million one year later.

Through these and other moves, Giant Industries reduced its debt by about $83 million by late 2003.

Through its Kellen vehicle, Terra Firma secured the purchase of East Surrey Holdings plc by the end of 2005.

Phoenix completed the sale of its supply arms Phoenix Supply Limited and Phoenix Energy Limited to SSE plc/Airtricity on 22nd June 2012.