Chesapeake Utilities

"Xeron" redirects here. For the fictional character in the Hulk comic universe, see Xeron (comics).

Chesapeake Utilities Corporation (NYSE: CPK) is a publicly held American energy services company focusing on distribution of natural gas and propane in the Delaware, Maryland and Florida. The corporate headquarters are located in Dover, Delaware. In Delaware, the company operates the only natural gas distribution system in Kent and Sussex Counties. The company serves all consumer types in Delaware and Maryland, but markets primarily to commercial and industrial customers in Florida, where it operates as Peninsula Energy Services Company, Inc. (PESCO).

History

The Dover Gas and Light Company was formed in 1859. This company was incorporated in Delaware in 1947 as Chesapeake Utilities Corporation and has made at least thirteen corporate acquisitions since that time. Trading of common stock on the NASDAQ Exchange (formerly traded as CHPK) began in 1985 and on the New York Stock Exchange (currently traded as CPK) in 1993.

Subsidiaries

The company is involved in a number of other businesses through wholly owned subsidiaries. The subsidiary Eastern Shore Natural Gas Company conducts natural gas transmission operations in Pennsylvania and Delaware, while subsidiaries Sharp Energy and Xeron are involved in propane distribution to all customer types. In addition, subsidiary BravePoint provides information-technology business services.

Governance

The President and Chief Executive Officer (CEO) is John R. Schimkaitis, who has held this position since 1999 (President since 1997). Presidents exist for each of the four subsidiaries Sharp Energy, Xeron, BravePoint and OnSight Energy. The Chief Operating Officer was Paul M. Barbas, who held this position from 2003 until 2006. Paul left Chesapeake to become CEO of Dayton Power and Light in 2006.

References

Information was obtained from multiple parts of the company website: Staff (2006). "Chesapeake Utilities Corporation corporate web site". http://www.chpk.com/. Retrieved 2006-09-01.