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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Hydraulic Hinges
A closely-watched case centering on a multimillion-dollar hydraulic fracturing deal in Ohio turns on how eight words in a drilling contract are interpreted, attorneys on both sides of a contract dispute told the state Supreme Court Tuesday.
Gulfport Energy Corp. and a subsidiary of Rice Energy Inc. say the phrase “the formation commonly known as the Utica Shale”—which appears in a contract reached with a landowner in rural Belmont County, along the Ohio-West Virginia border—was known to include the Point Pleasant formation below Utica’s base.
This gives the companies permission to conduct drilling for hydraulic fracturing, commonly known as “fracking,” ...
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