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2nd Circuit Affirms: Leases Not Extended By New York Fracking Moratorium

(August 24, 2015, 3:20 PM EDT) -- NEW YORK — A panel of the Second Circuit U.S. Court of Appeals on Aug. 22 affirmed a lower court ruling and said 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, individually and as co-trustee of the Drusilla W. Beardslee Family Trust, et al. v....
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