Two gas drillers to disclose fracking risks to investors

Two natural-gas developers have agreed to disclose the financial impacts of hydraulic fracturing, or fracking, to investors under a deal with New York’s attorney general.

Anadarko Petroleum Corp. and EOG Resources Inc. will provide “publicly accessible information on the financial effects of regulation, litigation, and environmental impacts,” New York Attorney General Eric Schneiderman’s office said in a Friday statement.

ADVERTISEMENT
“Investors and the public have a right to know all relevant information about the environmental, financial and regulatory risks associated with the companies they are considering investing in,” Schneiderman said in a statement.

“These companies are setting a strong example for the rest of their industry,” he said.

The rise of fracking in recent years has helped the United States produce historic volumes of oil and natural gas, but it has raised environmental and health fears as well.

New York sits partially on top of the Marcellus Shale gas formation, which has proven extremely valuable in Pennsylvania and West Virginia. But New York has banned fracking for six years while the state studies its health effects.