New York High Court: Fracking Leases Not Extended By Moratorium
Mealey's (June 18, 2015, 10:11 AM EDT) -- ALBANY, N.Y. — The New York Court of Appeals on March 31 ruled that oil and gas leases between residents and a hydraulic fracturing company were not extended because the force majeure clauses in those leases did not modify the primary term of the habendum clause, which the company had argued was triggered by the state’s moratorium on fracking (Walter R. Beardslee, et al. v. Inflection Energy LLC, No. 44, N.Y. App.; 2015 N.Y. LEXIS 657).