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Chesapeake Says 3 OH Counties are “Core of the Core” in Utica
On the third quarter earnings call with analysts earlier this month, Chesapeake Energy officials were asked about the Utica Shale and their thoughts, now more than a year in, of how the Utica stacks up against the Eagle Ford, and how Chesapeake’s “core of the core” strategy is working in the Utica. Chesapeake CEO Aubrey McClendon answered the question this way, identifying the three counties in Ohio that are “the core of the core” for the company:
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The ignorant mob have won. A group of 83 anti-drilling, enviro-left faculty and staff at the University at Buffalo (UB), with the help of left-leaning mainstream media, have brought enough pressure to bear that UB’s president announced yesterday he is immediately shutting down the seven-month old UB Shale Resources and Society Institute. It’s a sad day for academic freedom and free speech. The inmates now run the asylum at UB.
An important court case has ruled in favor of landowners against energy companies in New York State. Last Thursday, U.S. District Court Judge David Hurd ruled against Chesapeake Energy and Inflection Energy (and in favor of landowners) in a case where the companies had tried to extend leases beyond the original term by invoking “force majeure,” a legal phrase that means the terms of the lease could not be carried out due to extenuating circumstances.