Chesapeake Settles Gas Lease Fight With NY Landowners

Law360, New York (September 9, 2013, 5:55 PM EDT) -- Landowners in New York's gas-rich Southern Tier settled litigation Monday with Chesapeake Energy Corp. and StatoilHydro over the companies' assertion — rejected by a federal judge and currently on appeal — that the state's fracking moratorium was a "force majeure" that allowed them to extend leases.

Chesapeake, its lease partner StatoilHydro and the plaintiffs have agreed to terminate their appeals in exchange for a complete release of the leases, according to attorneys for 200 landowners holding 13,000 acres.

"Our clients achieved the right outcome by working together...
To view the full article, register now.