February 23, 2017
Dover, Delaware — 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.
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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:
Senior Director, Corporate Communications
Chesapeake Utilities Corporation