Oil and Gas
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Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. Read More The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline. The Natural Gas segment purchases, sells and distributes natural gas. The Materials Handling segment stores various customer owned products, which includes asphalt, clay slurry, salt, gypsum, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment. The Other Operations segment includes the marketing and distribution of coal conducted in Portland, Maine terminal, commercial trucking activity conducted by Canadian subsidiary and heating equipment service business. The company was founded by Charles Hill Sprague in 1870 and is headquartered in Portsmouth, NH.
Portsmouth, New Hampshire
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Oil and Gas
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Seeking AlphaMay 15
Sprague Resources: Distribution Coverage Deteriorates Further
We had looked at Sprague Resources LP (SRLP) recently and concluded that their distribution coverage was likely to be under 100% for 2019. The initial press release from Q1-2019 results caught our attention as management affirmed guidance for the year and their intention to maintain the current distribution.
Expected Aug 7, Pre-Market