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Article: Chesapeake Energy backs out of NYC.
- Article from:
- UPI Energy Resources
- Article date:
- October 29, 2009
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Gas giant Chesapeake Energy Corp. said it has decided not to drill natural gas wells in the New York City watershed to focus on areas that are more promising.
Chesapeake faced mounting concerns that its activity in the New York City watershed could impact the quality of drinking-water reservoirs.
Chesapeake said it has become increasingly clear that concerns regarding gas drilling in the New York City watershed are a needless distraction to larger developments in the region.
The company touted its ability to use environmentally friendly technologies for developing and producing natural gas, but decided it was not worth the risk.
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