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Investors Take Action for Oil and Gas Accountability

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By Jennifer Krill

May 23, 2011

The activists' rite of spring has arrived, this year with a new crop of shareholder resolutions looking to reform the oil and gas industry. In 2011 investor-owned oil and gas companies are considering a series of proposals calling for greater transparency and disclosure of chemicals used in hydraulic fracturing.

Shareholders have filed resolutions to address fracking at 9 companies total: ExxonMobil, Chevron, Ultra Petroleum, El Paso, Cabot Oil & Gas, Southwestern Energy, Energen, Anadarko and Carrizo Oil & Gas. "Oil and gas firms are being too vague about how they will manage the environmental challenges resulting from fracking," said New York State Comptroller Thomas DiNapoli in a January press release. DiNapoli's office filed a resolution with Cabot Oil & Gas asking for a specific plan to reduce or eliminate hazards from fracking. This week, shareholder advocacy group As You Sow will be moving resolutions at ExxonMobil, Chevron, and Ultra Petroleum.

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Tagged with: fracking, drilling, natural gas, activism, investor

Firms Suspend Activities after Arkansas Earthquakes Linked to Fracking

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By Jennifer Krill

March 8, 2011

Are Arkansas' earthquakes manmade? While scientists work to determine the cause of over 700 earthquakes in a phenomenon that has come to be known as the Guy Earthquake Swarm, alarms are sounding that the quakes are caused by waste disposal for hydraulic fracturing, or fracking, for natural gas.

Fracking is the process of injecting fluids into oil or gas wells at high pressure in order to fracture the formations and enable the oil or gas to flow more freely and be pumped to the surface. Some of the fracking fluid stays underground, and some of it returns to the surface as waste. Since 2009, natural gas drillers have been pumping fracking wastes, also known as 'produced water' into disposal wells in the region around Guy, Arkansas. Beginning in that same time period, the region began experiencing earthquakes, including last Sunday's quake measuring 4.7 on the Richter scale. 

The earthquake issue came to a head last week when two natural gas drillers suspended their practice of injecting fracking wastes underground. 

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Tagged with: fracking, hydraulic fracturing, oil and gas, ogap, frac act

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