Meter Reading: More Bad News For Fracking Giant Chesapeake, New H20 Projects for El Paso

Here are some of the stories we’re reading today:

Chesapeake Deals Carry $1.4 Billion in Undisclosed Liability “Struggling Chesapeake Energy Corp. has saddled itself with about $1.4 billion of previously unreported liabilities over the next decade through off-balance-sheet financial deals.” — Wall Street Journal

Special Report: Chesapeake’s deepest well: Wall Street “Far from the drilling rigs of Oklahoma, America’s second-largest natural gas producer is having to dig ever deeper into the well that really fueled its growth: Wall Street.” – Reuters

Chesapeake delay contributed to well blowout “Chesapeake Energy’s delayed response to warning signs at a natural gas well contributed to a blowout in Wyoming in April, which led to a leak and the evacuation of dozens of nearby residents, state regulators said on Thursday.” – Upstream Online

El Paso OKs water projects; work to counteract lack of Lower Valley capacity  “Everyone knows El Paso is dry and thirsty. Meeting the water demands, particularly in the Lower Valley, is the focus of several multimillion-dollar projects before the Public Service Board.” — El Paso Times