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MIDWEST GAS, MINNEGASCO SIGN SERVICE AREA EXCHANGE AGREEMENT

 SIOUX CITY, Iowa, Dec. 23 /PRNewswire/ -- Midwest Gas, a utility of Midwest Resources Inc. (NYSE: MWR) and Minnegasco, a division of Arkla Inc. (NYSE: ALG), today signed a definitive agreement which calls for Minnegasco to acquire Midwest Gas' Minnesota natural gas distribution properties while Midwest Gas would receive Minnegasco's South Dakota distribution properties. Midwest Gas would also receive a payment of $38 million.
 Midwest Gas' Minnesota operation is based in Coon Rapids, Minn. and serves more than 76,000 customers in 41 communities. Minnegasco serves approximately 44,000 customers in 18 South Dakota communities, including Sioux Falls and Vermillion.
 Signing of the agreement follows the Nov. 16, 1992, announcement by the two companies that they had signed a letter of intent to exchange natural gas properties, and marks the next step toward the actual exchange of properties. The agreement is subject to approval by utility regulatory authorities in South Dakota, Minnesota and Iowa.
 -0- 12/23/92
 /CONTACT: Di Canny of Midwest Gas, 712-277-7866; or David Kostik of Minnegasco, 612-342-4914/
 (MWR ALG)


CO: Midwest Gas; Midwest Resources Inc.; Minnegasco; Arkla Inc. ST: Iowa, Minnesota, South Dakota IN: UTI SU:

BB -- DV005 -- 9767 12/23/92 18:36 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:198
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