Exhibit 99.1
FOR IMMEDIATE RELEASE
November 21, 2006
NYSE Symbol: CPK
CHESAPEAKE UTILITIES CORPORATION CLOSES OFFERING
OF 600,300 SHARES OF COMMON STOCK
DOVER, DE — Chesapeake Utilities Corporation announced today that it has completed a public offering of 600,300 shares of its common stock at a price per share of $30.10.
The Company plans to add the net proceeds of approximately $17.2 million, after deducting underwriting commissions and expenses from the sale of the common stock, to its general funds to be used to repay a portion of the Company’s short-term debt under unsecured lines of credit. Short-term debt has been used to temporarily finance the Company’s utility expansion projects.
Robert W. Baird & Co. Incorporated acted as lead book-running manager for the offering and A.G. Edwards & Sons, Inc. acted as co-lead manager. The underwriters can purchase an additional 90,045 shares pursuant to the exercise of the over-allotment option. This option expires on December 15, 2006.
Copies of the final prospectus supplement may be obtained from Robert W. Baird & Co. Incorporated Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, or by calling 1-800-RWBAIRD (1-800-792-2473).
Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing, propane distribution and wholesale marketing, advanced information services and other related businesses. Information about Chesapeake’s businesses is available atwww.chpk.com.
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FOR MORE INFORMATION:
Michael P. McMasters
Senior Vice President and Chief Financial Officer
302.734.6799
Beth W. Cooper
Vice President, Treasurer and Corporate Secretary
302.734.6022
