NEW YORK | Sun June 26, 2011 5 pm EDT
NEW YORK (Reuters) - while the gas such as ConocoPhillips and Chesapeake Energy Corporation are large bets on the wells that are supposed to to extract energy from shale formations, the New York Times reported that an inquiry of emails and documents shows the industry have doubts as to whether the companies will be able to keep their promises to investors.
In e-mails, energy management, industry lawyers, geologists of the State and issue of skepticism of market if natural gas companies are exaggerating how productive their wells will be, the Times reported.
The Times said he studied the well data and found that many of them are surrounded by less productive than more drilling areas and to exploit that the gas resulting is a value. The newspaper stated that his investigation found that in most of the wells, the amount of gas produced faster decline that companies had planned.
None of the e-mails accusing explicitly all companies of breaking the law, said the Times.
ConocoPhillips refused to comment on. Chesapeake could not be reached for comment.
(Reporting by Helen Chernikoff;) (Editing by Leslie Adler)
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