Propane Industry News

(September 2, 2022) — The Baker Hughes United States rig count is down five to 760 rigs week over week, with oil rigs down nine to 596, gas rigs up four to 162 and miscellaneous rigs unchanged at two.

HOUSTON & LONDON (Sept. 6, 2022) — Baker Hughes Company has announced it is restructuring and simplifying its organization and accelerating its strategic transformation. 

COLUMBUS, Ind. — Grammer Logistics announced that it has appointed Scott Dobak as CEO. Concurrent with Dobak’s appointment, he will also join Grammer’s board of directors.

Canton, Mass. (Aug. 29, 2022) — Gray, Gray & Gray, LLP has released the results of the firm’s 2022 Propane Industry Survey.

TRENTON, N.J. (Aug. 31, 2022) — New Jersey consumers deserve to know what electric conversion mandates will cost them under the State's Energy Master Plan and other related energy programs, according to regulatory comments filed by the New Jersey Propane Gas Association (NJPGA).

Kansas City (Aug. 30, 2022) — Lettermen’s Energy Holdings (LEH) announced the acquisition of Victory Propane. Based in Northbrook, Illinois, Victory significantly expands LEH’s operational footprint in the cold-weather markets of Ohio, Indiana, Pennsylvania and Michigan.

Terms of the deal were not announced, though Victory’s principal executive leadership, Gregg Falberg, Eric Falberg and David Florsheim, will join LEH in advisory roles and assist the company with future strategic initiatives. 

Newell, W.Va. (Aug. 26, 2022) — Marsh Bellofram announced several management changes with an eye on bringing sharper focus and clarity to its numerous businesses and market segments, and to better position the company for the future.  

John Gorrell has been named the new president of Marsh Bellofram, having previously served as chief operating officer.

Peoria, Ariz. (Aug. 29, 2022) — Taronis Fuels Inc. has resolved a proceeding that the United States Securities and Exchange Commission filed on Aug. 25, 2022. Without admitting or denying the SEC’s allegations, Taronis Fuels consented to be permanently enjoined from violations of certain provisions of the federal securities laws and agreed to pay disgorgement in the amount of $4,876,023, plus prejudgment interest in the amount of $231,877.50, for a total of $5,107,900.50.

Fernando Gallegos Named Director

Fernando Gallegos has been named director for Emerson/Fisher LP-Gas Equipment. In this role, he will oversee the LP-Gas global business, lead marketing strategies and business development.

DENVER (Aug. 23, 2022) — Offen Petroleum announced it has completed the acquisition of the wholesale division of G&S Oil Products, headquartered in Centennial, Colorado. Offen is an independent distributor of motor fuels, propane and lubricants, and offers petroleum logistics services in 40 states across the United States. 

MEDFORD, Wis. (Aug. 24, 2022) — Medford Cooperative has announced a key appointment to its senior leadership team. Jake Korzeniewski is joining the organization as the new director of agricultural services.

During the latest mid-month period, prices at Mont Belvieu saw a decrease as we get closer to the end of summer. The posted prices decreased 6.5 cents/gal, from July mid-month to August mid-month while the spot prices decreased 3.875 cents. Conway, Kan., postings ended with a 6.05-cent decrease and spots decreased 2.25 cents over the month.

Canada's primary underground propane inventories increased by 19.79% in August, according to the Canada Energy Regulator (CER). The total represented a month-to-month increase of 233.3 Mcm. Compared to a year earlier, stocks were lower, with 401.5 Mcm, or 22.13%, less product on hand. 

HONOLULU (July 21, 2022) — Hawaiʻi Gas announced that its ownership was transferred to an affiliate of Argo Infrastructure Partners LP (Argo), as a result of its acquisition of Macquarie Infrastructure Holdings LLC. The acquisition was completed after receipt of the approval in June from the Hawaiʻi Public Utilities Commission (PUC).

LAWRENCE, Mass. (Aug.