Chesapeake Backing Out of Lease Offers in PA | Green Arkansas

Wednesday, October 1, 2008

Chesapeake Backing Out of Lease Offers in PA

Posted By on Wed, Oct 1, 2008 at 11:22 AM

Yesterday I told you about the hearing held in Pennsylvania to try to increase some of the regulations on drilling companies in the area.  I'll have more on the hearing later today.  In other PA news, Chesapeake has sent, through a consulting firm, letters to landowners rescinding offers for gas leases. 

Based in Olean, N.Y., the Long Consulting Group LLC states in a September letter “Chesapeake is refocusing its oil and gas efforts and is scaling back its leasing efforts.”
The company said the “re-focusing is due to regulatory issues and current economic conditions.” Long Consulting Group project manager Myrna Coleman would not comment and referred questions to Chesapeake.

The article goes on to discuss the balancing act between economic and environmental concerns. Oil companies say they're being too-heavily regulated.  The Marcellus Shale area in Pennsylvania, like a lot of Arkansas, is rural and people there depend on water wells for clean drinking water.  The PA Department of Environmental Protection has been leading the call for more regs.  Here in Arkansas, it's the ADEQ that is responsible for protecting the waters of the state. 

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