Chesapeake Energy will allow Tioga and Broome County landowners with gas leases out of their contract. According to a report, the natural gas company sent a letter two weeks ago to some landowners, telling them of the company’s decision to free them of their leases. In June of last year, the state attorney general’s office settled a dispute between Chesapeake and landowners, and as part of the deal the company agreed to allow landowners to renegotiate the terms of over 4,000 mineral rights leases. Under the deal, the landowners were allowed to seek a deal with another gas company for better financial or environmental terms, and Chesapeake was able to either match the offer or release the lease. Now, landowners will have the option to renegotiate with Chesapeake or another company, without Chesapeake having the opportunity to match the offer. Governor Andrew Cuomo said in May that a decision on whether to officially allow hydrofracking in New York state will come before November of next year.
