Black Hills Corporation is a diversified energy company. The Company operates principally in the United States with two business groups: Utilities Group and Non-regulated energy Group. The Company’s Utilities group conducts business in two segments, such as electric utility and combination electric and gas utility. Its non-regulated energy group, which operates through Black Hills Energy and its subsidiaries, conducts business in four segments, such as oil and gas, power generation, coal mining, energy marketing. In July 2008, the Company completed the sale of seven independent power production gas-fired plants to affiliates of Hastings Funds Management and IIF BH Investment, a subsidiary of an investment entity advised by JPMorgan Asset Management. In July 2008, the Company completed the acquisition of five Aquila Inc. utilities in four states. Black Hills acquired Aquila’s electric utility in Colorado and Aquila’s four natural gas utilities in Colorado, Iowa, Kansas and Nebraska.