Frackers Subpoenaed by SEC?
According to FuelFix, it appears that natural gas “frackers” could face a new obstacle to their expansion, in addition to opposition from communities across America to the threat that fracking poses to water supplies and public health.
A number of lawmakers have called on the Securities and Exchange Commission to investigate aspects of the natural gas E&P business, namely whether companies are reporting the financial viability of shales accurately.
Now, Fuel Fix reports that “the SEC has pulled the trigger,” with “subpoenas seek[ing] documents and information regarding the actual performance of shale gas wells against forecasted orprojected performance, the propriety of decline curves for the wells,and the calculation and public disclosure of full-cycle margins.”
This will definitely be a story to keep a close eye on.
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