Chesapeake Releases BU Foundation Gas Lease
11/25/2013 (Updated 10:13:21 PM)A 563-acre parcel of land in Endicott is no longer under lease to gas company Chesapeake Apalachia, LLC.
The company released the Binghamton University Foundation from the lease according to documents filed last week in the County Clerk's office.
The foundation signed a five-year lease in 2008. In April of 2012, residents on Western Heights Ave, which leads to the parcel, expressed concern with potential fracking activity in its residential neighborhood.
Monday, the president of the Glen Park West Homeowners Association of the Western Heights community said the following in a statement: "(the association) is pleased with the decision to release the Binghamton University Foundation from its gas lease with Chesapeake. We hope that the foundation will allow its property to remain free of potentially polluting industrial development and refrain from leasing it to another company in the future."
A spokesperson for the foundation said it's up to the foundation's board of directors to decide whether to lease the land again.
County Court records also show Chesapeake released six others from their oil and gas leases on November 18th.
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