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Gas Drillers’ New York Hopes Fade on Paterson Woes

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Bloomberg. “Chesapeake Energy Corp.’s bid to tap new sources of natural gas in New York state may be quashed by Governor David Paterson’s political troubles. Paterson is the most prominent state proponent of drilling in the Marcellus Shale, a formation extending from West Virginia to New York that has helped spur a boom in U.S. shale-gas production. Chesapeake, the second-biggest producer of natural gas in the U.S., is one of three companies that have filed a combined 58 applications for drilling permits in the state.

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