DOVER, Del. – Chesapeake Utilities Corporation (NYSE: CPK) announced today that its propane subsidiary, Sharp Energy, has acquired the propane operating assets of Davenport Energy’s Siler City propane division. Through this acquisition, the Company expands its operating footprint further into North Carolina, where customers will be served by Sharp Energy’s Diversified Energy division.
The acquisition adds approximately 850 customers and distribution of approximately 406,000 gallons of propane annually to Sharp Energy’s territory.
“Propane is a core part of our unregulated energy operations. In rural areas especially, where natural gas is not available, propane is in high demand,” said Jeff Householder, president and chief executive officer, Chesapeake Utilities. “We are looking forward to welcoming the Davenport employees to the Chesapeake Utilities family and are committed to serving our new customers with excellence, integrity and care.”
“As we expand further into North Carolina, we are pleased to integrate the Davenport Energy business into Sharp Energy, operating as Diversified Energy,” said Andy Hesson, vice president of Sharp Energy. “Customers can expect a seamless transition in their propane service.”
About Sharp Energy
Sharp Energy, headquartered in Georgetown, Delaware, distributes propane to residential, commercial and industrial customers in Maryland, Delaware, Virginia, North and South Carolina and Pennsylvania. With multiple rail facilities and approximately nine 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