From EnvironmentalLeader.com
Investors have filed shareholder resolutions urging nine major oil  and gas companies to disclose risks of their U.S. natural gas  fracturing, or fracking, operations.
Five investment groups filed resolutions with ExxonMobil, Chevron,  Ultra Petroleum, El Paso, Cabot Oil & Gas, Southwestern Energy,  Energen, Anadarko and Carrizo Oil & Gas.
The proposals ask companies to disclose their policies for reducing  environmental and financial risks from the use of chemicals, water  impacts and other environmental issues associated with fracking.
The resolutions also request that companies start recycling and  reusing waste waters, reduce the volume and toxicity of chemicals, and  ensure the integrity of well cementing by using pressure testing and  other methods.
The New York State comptroller’s office is one of the shareholders filing a resolution with Cabot Oil & Gas.
“Oil and gas firms are being too vague about how they will manage the  environmental challenges resulting from fracking,” said comptroller  Thomas DiNapoli. “The risks associated with unconventional shale gas  extraction have the potential to negatively impact shareholder value.”
Other investors filing the resolutions include Domini Social  Investments, Trillium Asset Management, Miller/Howard Investments,  corporate accountability campaigners As You Sow and the Sisters of St.  Francis of Philadelphia.
The resolutions are being coordinated by the Investor Environmental Health Network and Green Century Capital Management.
Hydraulic fracturing uses water, particles and chemicals injected  underground at high pressure to break up shale and release natural gas.  The resolution sponsors say oil and gas companies are increasingly  turning to the method as conventional natural gas supplies have  dwindled.
Poor well construction can lead to drinking water contamination, well blowouts and gas leaks, the sponsors said.
ExxonMobil said on its website: “We  support the disclosure of  ingredients used, including disclosure on a   site-specific basis, and  we are working with industry associations on a   comprehensive policy.”
It said its hydraulic fracturing fluid is typically 98 to 99.5  percent water and sand, “with the balance consisting  of additional  ingredients that make  the process more effective by  reducing friction  and preventing pipe  corrosion and bacteria growth.”
ExxonMobil added: “State, federal, and  independent analyses have  found that the hydraulic fracturing process  poses no risk to  groundwater supplies.”
Last autumn, just days after the U.S. Environmental Protection Agency  (EPA) issued a subpoena to Halliburton to force the company to share  information about its hydraulic fracturing process, Halliburton  announced the launch of a new microsite that discloses the materials  content of its hydraulic fracturing fluids.
In November Wyoming implemented new rules requiring natural gas drillers to disclose chemicals used in fracking,  but citizen groups said the rules fall short of full transparency.