The Associated Press today reported that Chesapeake Appalachia has reached an agreement with New York state Attorney General Eric Schneiderman to let more than 4,400 landowners renegotiate old gas leases for more favorable financial and environmental terms.
Chesapeake also agreed to pay $250,000 to cover the state’s investigation costs.
The agreement was announced Thursday
The subsidiary of Chesapeake Energy Corp. tried to extend the leases in 2009, claiming the state’s de facto moratorium on shale gas development since it started an environmental review in 2008 constituted an uncontrollable event that allows for an extension if an "act of god" or unforeseen circumstance prevents drilling.
Schneiderman investigated after receiving complaints from landowners.
The leases were signed long before the shale gas boom boosted land prices. Many landowners today are also writing extensive environmental protections into leases.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.