Calling hydrofracking a matter of “potentially great commercial and environmental significance” in New York, a federal appeals court asked the state’s highest tribunal for guidance Thursday on interpreting oil and gas leases.
The U.S. Court of Appeals for the Second Circuit asked whether, under New York law, the primary terms of leases that energy companies signed with two dozen upstate landowners whose properties sit atop the Marcellus Shale geological formation are still valid under the doctrine of force majeure, or if they expired during a moratorium on commercial “fracking.”
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