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Showing posts with label Period. Show all posts
Showing posts with label Period. Show all posts

Tuesday, August 2, 2011

'Fracking' Comment Period Firm

- 'Fracking' Comment Period Firm

Tuesday, August 02, 2011
Times Union, Albany, N.Y.
by Brian Nearing

The state Department of Environmental Conservation is unlikely to extend its 60-day comment period on proposed rules to control natural gas hydrofracking, Commissioner Joe Martens said Monday.

Speaking before the Times Union Editorial Board, Martens said anyone who wants to comment on the 1,100-page draft rules -- released last month -- are actually getting more than 60 days to react since the draft won't be finalized until later this summer, which will start the 60-day period.

"I am inclined to stick with the 60 days," said Martens.

In 2009, when DEC first unveiled proposed draft rules on hydrofracking, there were nearly 14,000 comments for the department to consider, prompting the department to come back with the revised draft rules.

Martens said the department will consider some changes before rules are made final, including whether to increase the financial security that well drillers must provide to pay for the cost of unforeseen environmental cleanups.

Currently, a well owner must post only $5,000, usually in the form of a bond. That amount has not changed in decades, and some opponents to hydrofracking said it is woefully inadequate to deal with spills or other potential pollution from wells.

Such possible changes to the draft regulations, as well as an examination of how DEC will handle enforcement of its rules, will be examined by a 12-member advisory group appointed by Gov. Andrew Cuomo.

Martens said the first meeting of that group is being scheduled for later this month.

He said the advisory group does not have a deadline for making its recommendation. That means the public comment period could end before possible changes offered by the advisory board would be made public.

Copyright (c) 2011, Times Union, Albany, N.Y.

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Monday, July 25, 2011

BHP Billiton, Petrohawk Terminate Waiting Period

- BHP Billiton, Petrohawk Terminate Waiting Period

Monday, July 25, 2011
BHP Billiton plc

BHP Billiton and Petrohawk announced that on July 22, 2011, BHP Billiton and Petrohawk received notice from the U.S. Federal Trade Commission of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in relation to BHP Billiton’s tender offer for all of the issued and outstanding shares of common stock of Petrohawk for $38.75 per share in cash.

The documents related to the tender offer are being filed with the SEC today. As previously announced, the tender offer has been unanimously recommended by the Petrohawk board of directors and is being made pursuant to the merger agreement between BHP Billiton and Petrohawk. The tender offer is scheduled to expire at midnight, New York City time, at the end of Friday, 19 August 2011, unless the tender offer is extended or earlier terminated in accordance with the rules and regulations of the United States Securities and Exchange Commission (SEC) and the merger agreement.

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