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Chesapeake Utilities (CHK) Signs Agreements with Beebe Medical Center and SPI Pharma

March 15, 2011 4:20 PM EDT
CPK Hot Sheet
Overall Analyst Rating:
    NEUTRAL (Up Up)

Dividend Yield: 3.5%
Chesapeake Utilities Corporation (NYSE: CPK) announced that its Delaware natural gas division has signed agreements with Beebe Medical Center and SPI Pharma, both located in Lewes, Delaware, to provide natural gas service to their facilities. "Chesapeake Utilities has been working steadily to 'reach the beach' with clean-burning natural gas for more than ten years," said Jeffrey R. Tietbohl, Vice President of Chesapeake Utilities Corporation. "Commercial customers like Beebe and SPI Pharma are enabling natural gas service to be available sooner in the Five Points and Lewes areas," Mr. Tietbohl added. Chesapeake's intent is to be in a position to initiate natural gas service to these two customers during the upcoming 2011 fall season.

Both service agreements are contingent upon the City of Lewes' approval of the franchise agreement for the City along with securing other necessary governmental permits and easements.


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