Land-leasing a big part the business at Chesapeake Energy, and Retuers reporters have been investigating the how the Oklahoma City company secures land for drilling. Company executives call it a “land grab,” and brokers, land owners and lawyers tell Reuters it pushes “ethical and legal limits.”
Chesapeake has unilaterally altered or backed out of leases. And in Texas and at least three other states, it has exploited little-known laws to force owners to hand over drilling rights and sometimes forfeit profits. Some of the company’s own contractors have considered the tactics dubious … Some of the methods that Chesapeake has used aren’t unique to the company. Nor is the outcome necessarily one-sided. Many land owners have gotten rich on deals with Chesapeake.
Read more at: www.reuters.com
