Interior Department decision to cancel Gulf of Mexico leases is challenged
Exxon Mobil Corp. asked a federal judge last week to invalidate an Interior Department decision to cancel leases in the so-called Julia fields in the Gulf of Mexico, 285 miles from New Orleans.
Meanwhile, New York Attorney General Eric Schneiderman has issued subpoenas to three energy companies, Range Resources, Cabot Oil and Gas and Goodrich Petroleum, to determine whether they accurately informed investors about the potential profits from plans to develop natural gas wells, according to The New York Times.
The attorney general wants to determine whether investors, including the New York State pension fund, were persuaded to invest in the projects because of overly optimistic profit projections.
Bruce Alpert can be reached at balpert@timespicayune.com or 202.450.1406. Jonathan Tilove can be reached at jtilove@timespicayune.com or 202.450.1406.