Remember how Chesapeake Energy folks complained (is whined too strong a word?) about the 2007 Roane County Circuit Court jury award of about $404 million in compensation and penalties?
In the class-action â€œTawney case,â€ people who sold natural gas to Chesapeake and its predecessors — Triana Energy, NiSource Inc. and Columbia Natural Resources — alleged they were cheated out of some of their royalty payments, and the jury agreed.
Chesapeake CEO Aubrey McClendon, in his parting shot at the state last month, said the W.Va. Supreme Courtâ€™s refusal to hear an appeal of the Tawney case had a lot to do with the companyâ€™s decisions to cancel plans to build a $40 million regional headquarters in Charleston and, ultimately, eliminate 215 valuableÂ jobs here.
You might logically conclude Chesapeake was forced to fork over $404 million to its gas lease-holders and their lawyers. You would be wrong.