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Friday
Jun152012

Chesapeake to Renegotiate Gas Leases 

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(BINGHAMTON, N.Y.) -- New York Attorney General Eric Schneiderman has announced a deal with oil and gas company Chesapeake Appalachia, ABC affiliate WIVT/WBGH-TV reports.

Chesapeake will allow more than 4,000 landowners to renegotiate old gas leases for more favorable contracts. The company had tried to extend the terms of expiring leases because of the hydrofracking moratorium in the state. Landowners can now search for better deals from other companies that Chesapeake can choose to match.

The company will also reimburse the Attorney General's Office $250,000 for the cost of the investigation.

Copyright 2012 ABC News Radio

DateFriday, June 15, 2012 at 9:47AM AuthorKelly Knaub

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