Government & Regulatory | Top Story | Capital Markets | Private Equity Activity
Chesapeake Drops Leases in NY as Frac Ban Continues
Print
|
As the ban on hydraulic fracturing in New York continues, Chesapeake Energy Corp. has agreed to let go of over 13,000 acres of leased land in the state, according to a report by Reuters.
The acreage, located in Tioga and Broome counties, was the focus of a lengthy legal battle between the energy giant and over 200 landowners.
According to the report, the release of the acreage was confirmed by lawyers involved in the case.
New York has maintained a ban on the practice of hydraulic fracturing since 2008, which has deterred numerous operators from purchasing acreage in the state.