Don't Bet On Force Majeure In NY Oil And Gas Leases
November 28, 2012, 10:57 AM EST
Law360, New York (November 28, 2012, 10:57 AM EST) -- In two precedent-setting cases argued and decided the same day, the Honorable David N. Hurd, a federal district court judge sitting in the Northern District of New York, held that oil and gas leases terminated at the expiration of their primary term and had not been extended upon grounds of force majeure in the face of New York’s more than four-year moratorium on high-volume hydraulic fracturing.
In Aukema v. Chesapeake Appalachia LLC (NDNY, No. 11-cv-489), a number of landowners residing in Broome and Tioga counties alleged...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.