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Nowhere did the promise of fracking Marcellus Shale shine brighter than the banquet hall of the Binghamton Regency in late May 2008.
Spread before farmers on fine china over white linen was a feast of tenderloin tips, roasted vegetables, and chocolate mousse. They ate as they awaited turns at the “signing table.” Dinner was hosted by XTO Energy, the Texas drilling company seeking mineral rights to 50,000 acres in eastern Broome County.
That afternoon, and at two later banquets, XTO paid $110 million to 500 landowners for mineral rights to their land. For some, the single XTO check was more earned than in years of farming.
Gas prices were nearing an all-time high, and XTO was on a quest to tap the northern reaches of the mother of shale gas formations, extending from New York’s Southern Tier through Pennsylvania and parts of Ohio and West Virginia.
To many, these were just the beginnings of the promise coming true.
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