Norse Energy: We’re Still Here, Still Hanging On in NY
Good ol’ Norse Energy—the Norwegian-based driller who rolled the dice on New York State and (so far) lost the bet. You have to admire Norse. They signed a lot of acreage in Upstate New York—some 130,000 acres. Their intent was to frack the shale—but something happened on the way to the fracking dance. NY slapped a moratorium on shale gas drilling that’s now gone on for 4 1/2 long years.
Norse has done what it can to stay solvent ahead of NY’s release of permits to drill. They hope to be among the first to receive said permits when NY finally moves forward (they have already filed for permits). Every now and again Norse issues a press release to essentially say, “We’re still here and still hanging on.” This is the latest such release: