PRESS DIGEST- Financial Times - Aug 29
Aug 29 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
* Says its drilling did not lead to contamination
* Says to work with regulators, residents to fix cause
Dec 8 Range Resources Corp (RRC.N) denied U.S. environmental regulator's findings that its natural gas drilling activities had contaminated the water aquifer in Parker county in Texas.
The Environmental Protection Agency (EPA) said on Tuesday that natural gas drilling by the company has contributed to the contamination of at least two residential drinking water wells in the county and ordered it to step in immediately.
"Based on our findings to date, it's very clear that our activities have not had any impact on the water aquifer in southern Parker county or the subject water wells," Range Resources said in a statement.
The company said its investigations revealed that methane in the aquifer existed long before its drilling and likely is a naturally occurring migration from several shallow gas zones immediately below the water aquifer.
Fort Worth, Texas-based Range Resources, however, said it will work with regulators and residents to determine the cause and to assist with any remediation.
In a bid to ease environmental concerns, Range Resources had said in July it would disclose more data on the fluid it uses to drill for gas in Pennsylvania. [ID:nN14126820]
Range Resources shares closed at $45.11 on Tuesday on the New York Stock Exchange. (Reporting by Krishna N Das in Bangalore; Editing by Unnikrishnan Nair)
Aug 28 Hedge fund manager D.E. Shaw & Co LP is weighing a bid for SunEdison Inc's controlling stake in TerraForm Power Inc, the bankrupt U.S. renewable energy producer's most valuable asset, according to people familiar with the matter.
Aug 28 Gaston strengthened into the first major Atlantic hurricane of the season on Sunday, packing maximum sustained winds of 115 miles per hour (185 kph) with more powerful gusts but posing no threat to any land mass.