LP Gas, June 2017

Agility Fuel Solutions accelerates push into propane by acquiring CleanFuel USA Continued on page 25 A CleanFuel USA autogas dispenser PROPANE MASTER LIMITED PARTNERSHIP COMPARISON Fiscal Recent Total Units Year Quarter Price Current Current Est Tax Debt Outstanding Company End End 5 22 17 Distribution Yield Deferral Capital millions AmeriGas APU Sept March 4407 376 85 75 71 930 Ferrellgas FGP July Jan 573 040 70 90 154 972 NGL Energy Partners NGL March March 1585 156 98 80 62 1189 Suburban Propane SPH Sept March 2299 355 154 80 63 611 Average 102 88 LAST TWELVE MONTHS Gross Gross Gross Profit Gross Profit Retail Gallons Sold Percent Gross Profit Company Revenue Profit Margin Per employee millions Change Per gallon AmeriGas 2120 1288 61 151536 1053 2 117 Ferrellgas 789 436 55 111450 565 1 055 NGL Energy Partners 960 219 23 68565 168 3 016 Suburban Propane 960 614 64 179576 416 0 148 Average 51 127782 0 084 Source FactSet partnership reports and Wells Fargo Securities LLC Dollar figures in millions except for per unit data Revenue and gross profit data are based on total propane gallons sold Employee data is based on most recently completed fiscal year NGLs revenue and gross profit data include the sale of distillates and other natural gas liquids Sharon Lui analyst Wells Fargo Securities LLC NEWS BRIEFS INDUSTRY NEWS NUMBERS A gility Fuel Solutions Powertrain Systems business unit acquired the assets of CleanFuel USA a company specializing in liquid propane fuel injection systems and refueling infrastructure for more than 20 years Agility Fuel Solutions recently developed its Powertrain Systems business unit to focus on the development certification and integration of low pressure propane fuel systems on OEM engines and vehicles The company based in Costa Mesa California serves as a provider of clean fuel solutions for medium and heavy duty commercial vehicles Its product offerings also include natural gas hydrogen fuel storage and delivery systems and Type 4 composite natural gas cylinders Agility Fuel Solutions says it plans to hire key CleanFuel USA employees The company also plans to add business locations in Wixom Michigan to focus on the fuel systems and Georgetown Texas to focus on the refueling equipment CleanFuel USA founded by Curtis Donaldson established its headquarters in Georgetown in 1993 This acquisition will enable our Powertrain Systems business unit to accelerate its development and certification of propane fuel systems for OEM engines and vehicles ThompsonGas purchases Burkardts LP Gas ThompsonGas acquired the assets of Burkardts LP Gas in Polo Illinois from Bill and Beverly Burkardt Burkardts LP Gas sold about 56 million gallons of propane in 2016 to more than 6000 customers in Illinois The company was featured on LP Gas Top 50 propane retailers list in 2017 The transaction marks ThompsonGas first acquisition in Illinois according to the company It now serves more than 100000 customers in 18 states Vitol suspends propane flow to power plants Vitol suspended the flow of LP gas to two U S Virgin Islands Water and Power Authority WAPA power plants because of outstanding invoices for propane that Vitol delivered to the power plants over the past three months according to WAPA WAPA which says it continues to manage cash flow challenges reverted to using fuel oil as a result of the dispute with Vitol Despite the suspension of propane to WAPAs generation plants Vitol continues to transport fuel from its very large gas carrier anchored off the southwest coast of St Thomas to the LP gas terminals in Krum Bay St Thomas and Estate Richmond St Croix WAPA says 14 LPGas June 2017 www LPGasmagazine com