Chesapeake Utilities Corporation Expands Propane Services in North Carolina with Acquisition of J.T. Lee and Son's

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Dec 19, 2023, 16:30 ET

DOVER, Del., Dec. 19, 2023 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) announced today that its subsidiary, Sharp Energy, has acquired the propane operating assets of J.T. Lee and Son's in Cape Fear, North Carolina. Through this acquisition, Sharp Energy expands its customer base in North Carolina, including adding approximately 3,000 customers and distribution of approximately 800,000 gallons of propane annually. The transaction also includes a bulk plant with 60,000 gallons of propane storage, enabling the Company to realize efficiencies with additional storage capacity and overlapping delivery territories.

"We are excited to welcome J.T. Lee and Son's customers and employees into the Sharp Energy family," said Andy Hesson, vice president, Sharp Energy. "J.T. Lee, which has served customers for more than 60 years, will increase our North Carolina footprint and provide cost savings and other synergistic benefits as a result of the expanded Wilmington service area."

About Sharp Energy
Sharp Energy distributes propane to residential, commercial and industrial customers in Pennsylvania, Maryland, Delaware, Virginia, North Carolina, South Carolina and Florida and maintains local offices in the areas served to better support customers and communities where we operate. 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 delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions and other businesses. For more information, visit www.chpk.com.

Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.

For more information, contact:

Brianna Patterson
Manager, Public Relations and Strategic Communications
419-314-1233
[email protected]

SOURCE Chesapeake Utilities Corporation