Chesapeake Utilities Subsidiary Buys Western Natural Gas

Chesapeake Utilities Corp. (Dover, Del.) has confirmed that its propane subsidiary, Sharp Energy, has acquired Western Natural Gas Co. (Jacksonville, Fla.). The parties closed on this transaction on Oct. 26, and terms of the deal were not publicly disclosed.

“This is an important acquisition for our company as it enables Sharp Energy to immediately expand the availability of its propane operations into Florida and build upon our existing propane footprint,” said Jeff Householder, president and CEO of Chesapeake Utilities Corp. “Sharp Energy continues to expand and generate strong performance for our company. They are an industry leader, providing community gas systems, wholesale capabilities, and propane autogas to customers throughout the Mid-Atlantic region.  Acquiring Western Natural Gas will assist us in meeting customer demand and expanding our propane distribution foundation in Florida.”

Western Natural Gas has been providing propane service to the First Coast of Florida for more than 80 years. It provides propane service to approximately 4000 residential and commercial customers and sells approximately 1 million gallons of propane throughout four counties in northeast Florida.

“As a family-owned and -operated business in northeast Florida for over 80 years, the decision to sell was not easy, but it was very clear that Sharp Energy is a company that best replicated our way of doing business with an appreciation for our customers and our employees,” said Ken Baker, executive vice president of Western Natural Gas Co. “We are confident that Sharp Energy will continue our tradition of safety first, unmatched service, and dependability.”

SOURCE: The Weekly Propane Newsletter, November 12, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.