Chesapeake, Encana Hit With Criminal Antitrust Charges
Law360, Los Angeles (March 5, 2014, 10:12 PM EST) -- Michigan's attorney general on Wednesday slapped Chesapeake Energy Corp. and Encana Oil and Gas USA Inc. with criminal antitrust charges for allegedly colluding to limit bid prices in public land auctions in 2010 for Michigan oil and gas deals.
Oklahoma-based Chesapeake and Delaware-based Encana each face one count of antitrust violations "relating to a contract or conspiracy in restraint of commerce" and one count of attempted antitrust violations, according to Michigan Attorney General Bill Schuette.
The charges followed a lengthy investigation by Schuette's office into a possible conspiracy between the companies to hold down land prices in oil and gas transactions...
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