Chesapeake Utilities Corporation Acquires Marlin CNG Services

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Dec 19, 2018, 16:15 ET

DOVER, Del., Dec. 19, 2018 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK), announced today its acquisition of Marlin CNG Services (Marlin), a premier North American supplier of mobile compressed natural gas (CNG) utility and pipeline solutions.

"With increased opportunities for mobile fuel and virtual pipeline solutions on the horizon, this acquisition aligns with our strategic plan as we expand the scope of our services throughout our service territories and beyond. Acquiring Marlin CNG Services allows us to extend our services and utilize customized equipment to meet the needs of natural gas suppliers and customers," said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation.

Since 1996, Marlin has been providing virtual pipeline applications to local gas distribution utilities, municipal gas companies, intrastate and interstate pipeline companies, natural gas producers, manufacturers and large industrial customers throughout North America. Using its experienced and fully certified staff in combination with its fleet of CNG tankers, mobile compressors and its patented offload regulators, Marlin provides gas supply support during planned interruptions of service and responds rapidly to unexpected interruptions.

"This acquisition extends Chesapeake's service offerings to a variety of new customers, allows for flexibility in meeting the needs of local distribution and transmission companies, and supports the expansion of our business," said Jeffry M. Householder, President of Chesapeake Utilities Corporation's Florida Business Unit.

Marlin provides an array of gas supply solutions to address most supply interruption scenarios and offers other unique applications where pipeline supplies are not available or cannot meet customer requirements. These applications include solutions for winter peaking supplies, pipeline integrity testing, equipment testing, pipeline reconstruction, fuel supply switching and bridging supply requirements in advance of pipeline connections.

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.

Cautionary Note Regarding Forward-Looking Statements: Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "likely," "outlook," "forecast," "would," "could," "should," "can," "will," "project," "intend," "plan," "goal," "target," "continue," "sustain," "believe," "seek," "estimate," "anticipate," "may," "possible," "assume," variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual results to vary materially from those indicated, including the factors described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each of which is incorporated herein by reference, and in other documents that we file or furnish with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by law, the Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

For more information, contact:

Beth W. Cooper
Senior Vice President & Chief Financial Officer
302.734.6799

SOURCE Chesapeake Utilities Corporation