chesapeake energy

What Does DFW’s Lawsuit Against Chesapeake Prove?

Submitted by jrlaw on Dec 23rd, 2009

WFAA-TV reported on a story covering the cities of Dallas and Fort Worth’s lawsuit against Chesapeake Energy. Committees representing the cities, which own the Dallas/Fort Worth International Airport, believe that Chesapeake Energy shorted the airport several million dollars.

 

A short time ago, it was predicted that drilling for natural gas on the airport property would bolster growth for well into the next century. However, the city is now claiming that Chesapeake Energy has stopped all drilling prematurely and has also ignored its financial obligations.

 

The Dallas/Fort Worth International Airport has relied upon this natural gas drilling profit for quite some time, using the funds for various renovations. The bonus money alone, not counting the regular income, was said to be $185 million. 

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