DOVER, Del., Feb. 23, 2017 /PRNewswire/ -- Chesapeake
Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities")
announced today that Sandpiper Energy ("Sandpiper" or "the
Company"), a wholly-owned subsidiary, is now delivering natural gas
to the Town of Ocean City,
Maryland. The Company expects to make more than 250
conversions to natural gas for residents and business owners
through the end of May, before the start of the tourism season. The
upcoming Ocean City conversions
are part of the Company's ongoing initiative to increase the energy
options for residents.
"Our team is excited to have made progress in its commitment to
providing natural gas to residents and businesses in Ocean City and Worcester County, Maryland," said Michael P. McMasters, President and Chief
Executive Officer of Chesapeake Utilities Corporation. "This
extension of our service means more people will enjoy the numerous
benefits of natural gas as we continue to provide excellent value
to this region and service to our customers, community members and
shareholders."
The Sandpiper Energy team has converted more than 4,000 homes
and businesses in Worcester County
since the project was initiated in 2013. When the Ocean City system is fully converted to
natural gas, the net effect will be a reduction in CO2 emissions by
over 3,000 tons, the equivalent of taking over 500 cars off the
road. With more than 3,500 accounts in Ocean City to convert and taking into
consideration the tourism season, the process will take several
years to complete.
"We are excited to bring natural gas service to Ocean City, Maryland," said Jim Moore, Vice President, Chesapeake Utilities. "We have a long-standing
history in meeting the energy needs of the Delmarva Peninsula and
our employees look forward to serving the Worcester County community."
About Sandpiper Energy
Sandpiper Energy distributes
natural gas and propane to approximately 11,000 residential
commercial and industrial customers in Worcester County, Maryland. In the last two
years, over 2,400 Berlin and
West Ocean City customers have
converted their homes and businesses to natural gas.
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; propane and crude oil wholesale marketing; steam
generation; and other businesses. Information about Chesapeake
Utilities Corporation's businesses is available at
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.
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:
Mike Stock
Senior Director, Corporate Communications
Chesapeake Utilities Corporation
302.736.7808
mstock@chpk.com
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SOURCE Chesapeake Utilities Corporation