Sprague Resources Reports Higher Adjusted Gross Margin For Natural Gas Marketing Business
November 07,2019
Sprague Resources LP reported that for the quarter ending Sept. 30, 2019, its Natural Gas segment adjusted gross margin increased $0.7 million, or 22%, to $3.7 million, compared to $3.0 million for the third quarter of 2018.
"Natural Gas segment volumes increased 14% to 12.2 million [sic] Bcf in the third quarter of 2019, compared to 10.7 million [sic] Bcf in the third quarter of 2018," the company said in a news release
In a table in the release, Natural Gas segment volumes were listed as about 12.2 million MMBtus for Q3 2019, versus 10.7 million MMBtus a year ago
"Natural Gas results were primarily a result of customer account growth, coupled with more favorable natural gas market conditions," the company said