Chesapeake, the largest natural gas producer in Pennsylvania, is losing money. The current low price of gas will leave the company around $4 Billion in the red this year. Part of their response is to use a recent state Supreme Court ruling to justify charging landowners for the drilling and transportation expenses involved in extraction, reducing or eliminating all royalties. What was once a windfall to Pennsylvania communities is now becoming a burden, with Chesapeake now retroactively billing landowners for previous expenses. StateImpact Pennsylvania has written and recorded a thorough report on the issue.
posted by Toekneesan
on Jun 29, 2013 -