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Range, Cabot, Goodrich Subpoenaed By NY Attorney General Over Natural Gas Drilling

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New York Attorney General Eric Schneiderman sent subpoenas to Range Resources Corp., Cabot Oil & Gas Corp., and Goodrich Petroleum Corp., on August 8 requesting documentation on the formulas used to determine the life span of a gas well, and how profitability has been reported to investors.

Chesapeake Energy Inc, is being questioned in much the same way, over the same issues.

Bloomberg has reported that the subpoenas were sent under the NY securities Fraud statute, the Martin Act.

Schneiderman previously requested a full environmental review of the fracking process from XTO Energy after the Delaware River Basin Commission accepted an application from the Exxon Mobile Corp., unit to explore the area. The environmental impact assessment report has yet to be produced.

According to court papers filed by groups representing the oil and gas companies that hold gas leases in New York, Schneiderman’s lawsuit could shut down gas development in the Delaware River Basin for years.

 

breakinglawsuitnews.com disclaimer: This article: Range, Cabot, Goodrich Subpoenaed By NY Attorney General Over Natural Gas Drilling was posted on Friday, August 19th, 2011 at 7:55 pm at breakinglawsuitnews.com and is filed under Toxic Substances Lawsuits.

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