A report suggests the largest owner of oil and gas wells in the U.S. is close to bankruptcy and if that happens, there is the possibility that up to 70,000 oil and gas wells in Appalachia could be abandoned.
Environmental Health News issued the report this week about Diversified Energy Company headquartered in Birmingham, Alabama. It indicated a report by the Ohio River Valley Institute, a progressive think tank, contends the firm’s financial liabilities exceeded assets by more than $300 million in June.
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