Norse Energy files for bankruptcy while hydrofracking still on hold

Norse Energy files for bankruptcy while hydrofracking still on hold by Glenn Coin, December 7, 2012, The Post-Standard
The Norwegian gas-drilling company active in Madison County that has wells in Madison County and had planned to drill the first hydrofracking well in the deep Utica shale has filed for bankruptcy, the Associated Press reports. … The bankruptcy filing says Norse Energy has $32.6 million in debt and less than $50,000 in assets. Norse has 130,000 acres under lease for gas drilling in New York state and has a number of conventional wells in and around Madison County.