Council, per a link http://www.businessweek.com/news/2012-01-10/fracking-moratorium-urged-as-doctors-call-for-health-study.html, I am reporting to you about a recent health conference AND some information of the questionable future financial stability of Chesapeake so we can assist them with enacting a force majeure to preserve existing contracts that may not be re-offered if they expire. As a minerals owner and resident that will be near the operations in proximity, I am looking out for both sides the drill bit.
A group funded by the CDC and the EPA called the Mid-Atlantic Center for Children’s Health and the Environment in Washington helped sponsor the conference with Adam Law, an endocrinologist at Weill Cornell Medical College in New York. Mr Law was quoted regarding fracking “We’e got to push the pause button, and maybe we’ve got to push the stop button”. On January 9, 2012, Bloomberg reported that doctors said at this conference that “The U.S. should declare a moratorium on hydraulic fracturing for natural gas in populated areas until the health effects are better understood”.
Paulson, who heads the group that sponsored the conference in part with Mr Law’s organization, Physicians Scientists and Engineers for Healthy Energy said it was “reasonable to ask for a moratorium on fracking pending more health research”.
Jerome Paulson, a pediatrician at George Washington University School of Medicine in Washington said “Gas producers should set up a foundation to finance studies on fracking and independent research is also needed”.
Vikas Kapil, chief medical officer at National Center for Environmental Health, part of the U.S. Centers for Disease Control and Prevention, said at the conference “We don’t know the chemicals that are involved, really; we sort of generally know, we don’t have a great handle on the toxicology of fracking chemicals.”
Christopher Portier, who is director of the National Center for Environmental Health and Agency for Toxic Substances and Disease Registry said that hydraulic fracturing fluids can contain potentially hazardous chemical classes including petroleum distillates, volatile organic compounds, and glycol ethers; also the wells can contain salts and radiation.
Chris Tucker, an industry spokesman for Energy In Depth, called the CDC’s participation in the conference “disappointing,” saying the conference is “a closed-door pep-rally against oil and natural gas development”, however industry representatives registered to attend the conference. The industry has been telling our Arlington City Council that hydraulic fracturing for gas has been occurring for 65 years in 30 states. Tucker reinstated this and said the industry had a “demonstrable history of safe operations”. But please understand the paramount differences in what Mr Tucker is referring to is not apples to apples.
As a concerned Arlington resident, our council needs to remember that your grandpas traditional vertical wells using 2,000 psi were not water and chemically intensive and did not use detonation guns to fracture unconventional shale gas sources at 8-10,000 psi in the air shed of urban, highly populated areas.
Based on your oath to protect the public’s health and safety and in the general $$ interest of mineral holders, please table every new gas well permit and SUP which gives the drillers force majeure and not be under a time table on these lease holds. This will buy all parties involved more time to study health effects and will allow lease holders to be able to receive higher royalty checks later on when the price of natural gas goes back up and therefore is more economical for all parties involved instead of allowing contracts to just expire. Case in point, my father-in-laws XTO lease expired on Avonhill in Arlington and a renewal contract was not re-offered.
Plus I have concerns of Chesapeake’s newest round of class action lawsuit(s). * If they go bankrupt or have more margin calls, then I fear the tax payers will be maintaining these drill sites and paying trucking companies to daily evacuate the water from these wells.
*Order (40 KB) UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK SAFRON CAPITAL CORPORATION, USDCSDNY DOCUMENT ELECTRONlCAtLY FILED D AXEretFT*._^’ 0 7 2009 Plaintiff, -v- No. 09 Civ. 1826(LTS) CHESAPEAKE ENERGY CORPORATION et aL, Defendants. Order In this putative class action, Electrical Workers Pension Fund 103,1.B.E.W. moved to be appointed Lead Plaintiff on April 27, 2009. (Docket entry no. 17). Michael Deutsch also moved to be appointed Lead Plaintiff on April 27, 2009 (docket entry no. 21) and subsequently withdrew his motion on May 15, 2009 (docket entry no. 29). The Court appointed United Food and Commercial Workers Union Local 880 – Retail Food Employers Pension Fund (“UFCW”) as Lead Plaintiff on May 28, 2009. (Docket entry no. 31.) Accordingly, docket entry numbers 17 and 21 have been resolved. SO ORDERED. Dated: New York, New York October 7, 2009 LAUWA TAYLOR SWAIN United States District Judge J0.07.09.WPD Version 10/7/09
Amended Complaint For Violations Of The Federal Securities Laws (0.93 MB)UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x SAFRON CAPITAL CORPORATION, Individually and On Behalf of All Others Similarly Situated, Plaintiff, vs. CHESAPEAKE ENERGY CORPORATION, AUBREY K. MCCLENDON, MARCUS C. ROWLAND, MICHAEL A. JOHNSON, RICHARD K. DAVIDSON, FRANK A. KEATING, BREENE M. KERR, CHARLES T. MAXWELL, MERRILL A. MILLER, JR., DONALD L. NICKLES, FREDERICK B. WHITTEMORE, UBS INVESTMENT BANK, ABN AMRO, BANC OF AMERICA SECURITIES LLC and WELLS FARGO SECURITIES, Defendants. Civil Action No. 1:09-cv-01826-LTS CLASS ACTION AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS DEMAND FOR JURY TRIAL x Lead Plaintiff United Food and Commercial Workers Union Local 880 – Retail Food Employers Pension Fund (“Lead Plaintiff or “Plaintiff), individually and on behalf of all others similarly situated, makes the following allegations based upon Lead Plaintiffs individual and personal knowledge as to Lead Plaintiffs own acts, and the investigation undertaken by its undersigned co
Order Appointing The United Food And Commercial Workers Union Local 880 – Retail Food Employers Pension Fund As Lead Plaintiff And Approving Lead Plaintiff’s Selection Of Counsel (86 KB)X %u) flV, UNITED STATES DISTRICT COUR”L «^-.-—~ r “JU” SOUTHERN DISTRICT OF NEW YORK y^A fAVfOH SWAIN U.S.Oj._ SAFRON CAPITAL CORPORATION, Individually and On Behalf of All Others Similarly Situated, Plaintiff, vs. CHESAPEAKE ENERGY CORPORATION, et al., Defendants. Civil Action No. 1:09-cv-01826-LTS CLASS ACTION ORDER APPOINTING THE UNITED FOOD AND COMMERCIAL WORKERS UNION LOCAL 880 – RETAIL FOOD EMPLOYERS PENSION FUND AS LEAD PLAINTIFF AND APPROVING LEAD PLAINTIFF’S SELECTION OF COUNSEL USDCSDNY DOCUMENT ELECTRONICALOT HLED r>QC #: DAFE FILED: J^LLUfflL Having considered the United Food and Commercial Workers Union Local 880 – Retail Food Employers Pension Fund’s Motion for Appointment as Lead Plaintiff and Approval of Lead Plaintiffs Selection of Counsel (the “Motion”), and good cause appearing therefor, the Court ORDERS as follows: 1. The Motion is GRANTED; 2. The Court, having considered the provisions of the Securities Actof 1933,15U.S.C. §77z-1(a)(3)(B),
Complaint For Violations Of The Federal Securities Laws (66 KB)UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK SAFRON CAPITAL CORPORATION, Individually and On Behalf of All Others Similarly Situated, Plaintiff, vs. CHESAPEAKE ENERGY CORPORATION, AUBREY K. MCCLENDON, MARCUS C. ROWLAND, MICHAEL A. JOHNSON, RICHARD K. DAVIDSON, FRANK A. KEATING, BREENE M. KERR, CHARLES T. MAXWELL, MERRILL A. MILLER, JR., DONALD L. NICKLES, FREDERICK B. WHITTEMORE, UBS INVESTMENT BANK, ABN AMRO, BANC OF AMERICA SECURITIES LLC and WELLS FARGO SECURITIES, Defendants. Civil Action No. CLASS ACTION COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS DEMAND FOR JURY TRIAL NATURE OF THIS ACTION 1. This is a securities class action against Chesapeake Energy Corporation (“Chesapeake” or the “Company”), its directors and its investment bankers (collectively, the “Defendants”) for violations of the Securities Act of 1933 (the “Securities Act”). Plaintiff brings this action on behalf of itself and all other purchasers of Chesapeake stock issued pursuant to the registrat
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FYI http://www.halliburton.com/public/solutions/contents/Shale/related_docs/H063771.pdf water intensive refrack jobs have commenced on 2003 and 2004 wells and can cost as much as 25% of the total well cost
http://www.spegcs.org/attachments/studygroups/2/2011_03%20Bus%20Dev%20-%20Schlumberger%20Craig%20Cipolla.pdf “Where did the fluid go, what is the fracture geometry and stimulated area? Where is the proppant?” Check out the chart “Variability – Shale Plays Large variability can occur over very short distances, many poor wells “
Thank you for your consideration in tabling drilling activity on Jan 24’th public hearing so that force majeures can be enacted until economically feasible and assurance of public safety is addressed.
Kim Feil
