Does your Represenives have your interests in mind?

Well, if you did not know where Pulteney, NY was, and you follow environmental issues in the United States you probably do now. A lot of interesting facts have surfaced since Chesapeake Energy decided to apply to the EPA and DEC for their toxic - radioactive waste water dump site in Pulteney, NY.



Chesapeake Energy is not the only company invested in the natural gas here:



A huge buying opportunity, which is exactly what Norway’s StatoilHydro did when they paid Oklahoma City-based Chesapeake Energy (NYSE:CHK) $1.25 billion in cash for a 32.5 percent interest in its assets in the Marcellus Shale, the natural-gas field that extends from western New York south and west across Pennsylvania to West Virginia. Statoil also committed to spend an additional $2.13 billion to offset Chesapeake’s drilling expenses. Here’s the full release from Chesapeake’s website announcing the deal on November 11:
Chesapeake Energy Corporation Announces Marcellus Shale Joint Venture and International Unconventional Natural Gas Exploration Alliance with StatoilHydro


OKLAHOMA CITY–(BUSINESS WIRE)–Nov. 11, 2008–Chesapeake Energy Corporation (NYSE:CHK) today announced the execution of an agreement for a joint venture with StatoilHydro (NYSE:STO, OSE:STL) whereby StatoilHydro will acquire a 32.5% interest in Chesapeake’s Marcellus Shale assets in Appalachia for $3.375 billion, leaving Chesapeake with a 67.5% working interest. The assets include approximately 1.8 million net acres of leasehold, of which StatoilHydro will own approximately 0.6 million net acres and Chesapeake will own approximately 1.2 million net acres.


StatoilHydro will pay $1.25 billion in cash at closing and will pay a further $2.125 billion from 2009 to 2012 by funding 75% of Chesapeake’s 67.5% share of drilling and completion expenditures until the $2.125 billion obligation has been funded. Chesapeake plans to continue acquiring leasehold in the Marcellus Shale play and StatoilHydro will have the right to a 32.5% participation in any such additional leasehold.


Additionally, Chesapeake and StatoilHydro have agreed to enter into an international strategic alliance to jointly explore unconventional natural gas opportunities worldwide. Closing of the transaction and strategic alliance is anticipated to occur by year-end 2008.
Helge Lund, President and CEO of StatoilHydro, stated, “I am pleased that we today have made a strategically important move by joining forces with Chesapeake, which is the leading U.S. natural gas player. We are establishing a strong platform for further developing our gas value chain business and growing our position in unconventional gas worldwide. The agreement we have entered into with Chesapeake provides us with a solid position in an attractive long-term resource base under competitive terms. Additionally, this deal adds a major building block to the gas value chain position we have established in the U.S., the world’s largest and most liquid gas market. This is a significant step in strengthening our U.S. gas position, building on our existing capacity rights for the Cove Point LNG terminal, our gas trading and marketing organization and the gas producing assets in the Gulf of Mexico.”
Aubrey K. McClendon, Chesapeake’s Chief Executive Officer, commented, “We are honored to establish a business relationship with StatoilHydro and are excited about the mutually beneficial nature of our transaction with them. We believe this transaction creates substantial value for both companies and unique opportunities for international growth with one of the leading international oil and gas companies. Jointly we can export our world class unconventional natural gas technology for further long-term growth.


“Chesapeake has now completed three shale joint ventures that collectively value Chesapeake’s Haynesville, Fayetteville and Marcellus Shale assets (before the joint ventures) at approximately $34 billion. Through these transactions, Chesapeake sold a 20% working interest in its Haynesville Shale assets to Plains Exploration & Production Company (NYSE:PXP) for $3.3 billion (thereby retaining an 80% working interest valued at $13.2 billion), a 25% working interest in its Fayetteville Shale assets to BP America (NYSE:BP) for $1.9 billion (thereby retaining a 75% working interest valued at $5.7 billion) and now has agreed to sell a 32.5% working interest in its Marcellus Shale assets to StatoilHydro for $3.375 billion (thereby retaining a 67.5% working interest valued at $7.0 billion). The total consideration to CHK from these sales has been approximately $8.575 billion, of which approximately $4.0 billion has been (or will be) in cash and approximately $4.575 billion is in drilling and completion cost carries. Furthermore, CHK retains the remaining ownership percentages of the joint ventures that have been valued at approximately $26 billion, or over $40 per share of value from just these three shale joint venture transactions. These joint ventures clearly demonstrate the enormous value of Chesapeake’s shale natural gas assets and the unique capability of our organization to develop them.”


Chesapeake was advised on the transaction by Jefferies Randall & Dewey of Houston, Texas.

http://www.landreport.com/2008/11/chesapeake-gets-3-billion-injection-for-marcellus-shale/#more-377



Now knowing what Chesapeake has to lose and gain it is now wonder they are prepared to poison so many people, and live in a state 500 miles from here when they do. I would hate to see Aubrey McClendon have to take a cut in his $ 975,000.00 salary wouldn't you? And thank god he got that $76,951,000.00 bonus last year!! And all he got last year in total compensation including investments was $100,069,201.00, lordy, talk about living in the poor house!! I can't believe he could not make more off the backs of people like us....what a looser!

http://people.forbes.com/profile/aubrey-k-mcclendon/18103



Then there are our local and state representatives. Congressman Eric Massa (R) is a newly elected representative to our area. He has taken a strong interest in this issue and has shown his interest by his actions. This is been quite a step up from his predecessor. It is nice to have a Congressman on our side instead totally on his own.



Then you have Senator George Winner (R). What a farce he is. He has a solid relationship with the gas drilling companies including Chesapeake Energy as a recipient of campaign funds; http://www.fingerlakesfracking.com/Chesapeake-Energy-Corporation/1500003237.profile.

http://www.fingerlakesfracking.com/George-H-Winner-Jr/1500003647.profileIt is no wonder he would not get involved to help. Another reason special interest groups and big business should not be able to contribute to he campaign of our Representatives. They bought Mr. Winner and now he owes them. He was invited to the public meeting on Feb 7th, and from what I understand would not even return the invite with a decline! If anybody thinks he is gong to do anything to help anybody but himself they better think again next election.

We can't even plead to our Governor on this issue to protect our state as he is pushing the drilling issue, and is blind, so he can not appreciate the beauty of this area that he has decided is worth trashing. We need a few more years of him too, don't we?

Well I have rambled on enough for today.

Hang in there - we are all in this together!

Deb

P.S. Still no TracFone in the mail box.