Monday, June 18, 2012

Chesapeake settles force majeure clause cases with NY Attorney General.

The case arose after Chesapeake attempted to extend the lease terms for property owners under force majeure because of New York's horizontal hydraulic fracturing ban. The Attorney General’s office argued that because there is no ban on vertical fracking,  force majeure does not apply. This settlement will give land owners the opportunity to renegotiate their leases.
Written by Joseph Negaard, Research Assistant
June 18, 2012

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