Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Cabot Oil Agrees to Disclose Procedures for Fracking Fluids

change text size

New York State Comptroller Thomas P. DiNapoli said Cabot Oil & Gas Corp. has agreed to publicly disclose its policy and procedures for handling toxic substances in its hydraulic-fracturing fluids.

Oil companies have increasingly used hydraulic fracturing, or "fracking," to explore for oil and gas in shale rock formations. But environmentalists have said the technique--which blasts the rock with sand, chemicals and water--can contaminate groundwater.

Mr. DiNapoli said Tuesday he has withdrawn a shareholder proposal that called for a report on the use of these substances in Cabot's shale-energy operations.

Representatives for Cabot weren't immediately available for comment.

Mr. DiNapoli, as trustee of the $150.1 billion New York State Common Retirement Fund, has filed several resolutions over the past three years with oil and natural-gas companies concerning their disclosure of chemicals used in the hydraulic-fracturing process and reducing potential hazards associated with fracking.

The comptroller's office has also reached agreements with Hess Corp., Range Resources Corp. and SM Energy Co. under which the companies will disclose their hydraulic-fracturing activities.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Business Development Manager
Expertise: Business Development, Client Representative, Regulatory Compliance
Location: Arvada, CO
 
Manager, Environmental
Expertise: Engineering Manager, Environmental Engineer
Location: Los Angeles, CA
 
Program Environmental Manager
Expertise: Environmental Engineer
Location: Houston, Texas
 
search for more jobs