Sprague Reports Lower Gross Margins From Natural Gas Marketer
August 07,2019
Sprague Resources LP today reported its financial results for the second quarter ended June 30, 2019.
For Sprague's Natural Gas marketing segment, Sprague reported as follows:
• Natural Gas segment volumes increased 5% to 12.9 million Bcf in the second quarter of 2019, compared to 12.3 million Bcf in the second quarter of 2018.
• Natural Gas adjusted gross margin decreased $0.4 million, or 8%, to $4.6 million for the second quarter of 2019, compared to $5.1 million for the second quarter of 2018.
• Natural Gas net sales were $58.1 million for the second quarter of 2019, versus $58.4 million a year ago
"Natural Gas results saw higher pipeline capacity costs and limited optimization opportunities, particularly given April's warmer weather," the company said.