Wyoming’s governor persuaded the head of the U.S. Environmental Protection Agency to postpone an announcement linking hydraulic fracturing to groundwater contamination, giving state officials — whom the EPA had privately briefed on the study — time to attempt to debunk the finding before it rocked the oil and gas industry more than a month later, an investigation by The Associated Press has found.
The Obama administration unveiled a proposed rule that would force companies to reveal the chemicals they use when drilling for oil and natural gas on public lands. But the long-anticipated regulation includes a major concession to oil and gas companies, by allowing those disclosures to happen after a well is drilled and the chemicals are pumped underground — not a month beforehand, as federal regulators had originally considered.
Chesapeake Energy Corp. (CHK) Chief Executive Officer Aubrey McClendon agreed to sell $88 million of his personal oil and gas interests to investment vehicles created by Wachovia Corp. three weeks after his company used the bank in a similar $600 million deal, a court filing shows.
Chemically treated drilling fluid can migrate through thousands of feet of rock and endanger water supplies, said a hydrologist whose research calls into question the safety of hydraulic fracturing for natural gas.
The settlement requires Kinder Morgan to divest its Rockies Express, Kinder Morgan Interstate Gas Transmission and Trailblazer pipelines, in addition to two gas processing plants in the Rocky Mountain region,
Chesapeake Energy Corp. (CHK) will name an independent chairman to replace Aubrey McClendon and halt an incentive program that allowed the chief executive officer to amass personal stakes in thousands of company-operated wells.
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