Chesapeake Utilities Corporation Subsidiary Acquires Propane Operating Assets in Pennsylvania
Chesapeake Utilities Corporation (NYSE: CPK) announced today that its propane subsidiary, Sharp Energy, Inc., has purchased the propane operating assets of R.F. Ohl Fuel Oil Inc. based in Lehighton, Pennsylvania.
R.F. Ohl, a family-owned and operated company founded in 1984, has been providing propane service to more than 2,500 residential and commercial customers in Carbon, Monroe, Northampton, Lehigh, and Schuylkill counties in Pennsylvania since 2003. Sharp Energy started providing propane service to the Pennsylvania community that same year and now serves more than 6,000 customers throughout the state.
“We are excited to further expand our propane footprint throughout the Pennsylvania region and to continue our long-standing track record in meeting the energy needs of our customers,” said Bob Zola, President of Sharp Energy, Inc.
“This acquisition is a strategic fit for our family of businesses and will extend Sharp Energy’s reach to new customers, communities and businesses in Pennsylvania,” said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. “We look forward to expanding our service in this community and continuing to deliver safe, reliable and affordable propane service throughout the region.”
R.F. Ohl will retain ownership of its fuel products and HVAC services businesses. “We are excited to focus on the fuel products and HVAC services businesses and I am confident that Sharp Energy will continue to provide our propane customers with the same exceptional service that they have been accustomed to receiving,” said Steve Ohl, President, R.F. Ohl.
About Sharp Energy
Sharp Energy, headquartered in Georgetown, Delaware, distributes propane to approximately 39,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia and Pennsylvania. With four rail facilities and over three million gallons of propane storage, Sharp Energy has established a solid supply portfolio. Sharp Energy is a proud partner of Alliance AutoGas, a national network of companies that have joined together to deliver a comprehensive alternative fueling solution including EPA-certified propane AutoGas vehicle conversions, on-site fueling infrastructure, fuel supply, safety and operational training, and ongoing technical support. To learn more about Sharp Energy, visit www.sharpenergy.com.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, gathering and processing, and marketing; electricity generation and distribution; propane gas distribution; and other businesses. Information about Chesapeake Utilities Corporation’s businesses is available at www.chpk.com or through our IR App.
Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.
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