Norse Energy 1Q13: Still Holding on in NY…by a Thread
Did NY Gov. Andrew Cuomo kill off driller Norse Energy by refusing to allow fracking and drilling in the state? We would argue the answer to that question is “Yes!”. Of course there’s no one reason why a company sinks or swims, but clearly the root cause of Norse Energy’s impending sinking is because New York has refused to let them drill on the 130,000 acres they currently hold under lease. According to MDN’s reading of Norse’s first quarter 2013 report (full copy embedded below), Norse is very close to turning out the lights. A single politician–Cuomo–is the person most responsible.