Add-on Acquisition • Distribution

Chesapeake Acquires Eastern Shore Gas Co.

On June 26, 2012, Chesapeake acquired distribution company Eastern Shore Gas Co.

Acquisition Context
  • This is Chesapeake’s 1st transaction in the Distribution sector.
  • This is Chesapeake’s 2nd transaction in the United States.
  • This is Chesapeake’s 1st transaction in Delaware.

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M&A Deal Summary

Date June 26, 2012
Target Eastern Shore Gas Co.
Sector Distribution
Buyer(s) Chesapeake
Deal Type Add-on Acquisition

Target Company

Eastern Shore Gas Co.

Dover, Delaware, United States
Eastern Shore Gas Co. is a provider of propane distribution service to approximately 11,000 residential and commercial customers in Worcester County, Maryland, primarily in Ocean City, West Ocean City, Ocean Pines, Berlin, Pocomoke and Snow Hill.
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Buyer Overview 1

Buyer

Chesapeake

Dover, Delaware, United States

Category Company
Founded 1859
Sector Utilities
Employees1,200
Revenue 787M USD (2024)
DESCRIPTION

Chesapeake is a diversified energy company focused on delivering outstanding service and attaining sustainable growth that generates long-term value for our employees, customers, investors, and other stakeholders. Chesapeake was incorporated in 1859 and is based in Dover, Delaware.


Deal Context for Buyer #
Overall 2 of 6
Sector: Distribution 1 of 1
Type: Add-on Acquisition 2 of 4
State: Delaware 1 of 1
Country: United States 2 of 6
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-05-29 Xeron

Houston, Texas, United States

Xeron, Inc. is an independent oil and petrochemical company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-30 Gatherco

Orrville, Ohio, United States

Gatherco, Inc. is a midstream company, providing gathering, gas processing, and gas transportation services for producers with wells in the shallow formations of the Appalachian Basin.

Buy $59M