Delaware County nuns' shareholder issue gets 25% support

Posted: June 19, 2010

Natural gas producer Chesapeake Energy Corp. has announced that a shareholder measure on hydraulic fracturing, cosponsored by a Delaware County religious order, received 25 percent support at the company's annual meeting.

The measure, introduced by the Sisters of St. Francis of Philadelphia, a Roman Catholic order based in Aston, was one of a dozen offered this year by environmentalist shareholders of natural gas companies.

Six of the measures came to votes. All were rejected. The proposals asked management to make a risk assessment of hydraulic fracturing, a controversial technique for extracting trapped natural gas from impermeable geologic formations.

Shareholder measures are nonbinding and usually fail. Their main purpose is to raise public awareness and pressure management.

The six measures that came to votes this year received support ranging from 21 percent to 42 percent, which activists characterized as strong for first-year environmental resolutions.

Chesapeake, based in Oklahoma City and active in the Marcellus Shale, reported the June 11 vote Thursday in a filing with the Securities and Exchange Commission.


Contact staff writer Andrew Maykuth

at 215-854-2947 or amaykuth@phillynews.com.

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