Sprague Resources Closes Purchase Of Metromedia Energy

(RTTNews) - Sprague Resources LP (SRLP) said its wholly owned subsidiary, Sprague Operating Resources LLC, has completed the purchase of Metromedia Gas & Power, Inc.'s natural gas marketing and electricity brokerage business assets for $22 million in cash and the assumption of liabilities under pre-existing forward supply contracts.

Sprague said it will now provide an additional 10,000 commercial, industrial and municipal accounts with more than 15 Bcf of annual natural gas supply, and expand its service area to include Maryland, Virginia and the District of Columbia.Sprague will also now assist more than 7,000 commercial and industrial accounts with their procurement of more than 150 Megawatts of annual power demand.