Chesapeake Utilities’ (CPK) Arm Buys Propane Assets in Carolinas Posted byZacks Equity Research December 17, 2021 Leave a comment on Chesapeake Utilities’ (CPK) Arm Buys Propane Assets in Carolinas Chesapeake Utilities’ (CPK) unit takes over the propane operating assets of Diversified Energy Company, fortifying its footprint in North and South Carolina. The deal will boost CPK’s earnings in 2022.