Chesapeake hit with new anti-trust charge by Noah Brenner, May 9, 2014, upstreamonline
Michigan prosecutors have slapped Chesapeake Energy with a second charge of anti-trust violations in addition to the two other charges the US shale giant is already facing in relation to an alleged conspiracy to depress lease prices in the Collingwood shale play.
Encana agrees to pay $5m fine in antitrust case by upstreamonline, May 5, 2014
Encana: Doug Suttles-led company agrees to pay $5 million civil fine in antitrust probe
Lawyers for Encana pleaded no contest on Monday to charges the company attempted to commit antitrust violations in Michigan during 2010 and agreed to pay a $5 million civil fine at a court hearing, according to a report. After agreeing to the fine, Michigan’s Attorney General dismissed a second criminal charge that Encana committed antitrust violations in the state, Reuters reported.
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Encana’s no contest plea and the fine came after both companies conducted internal investigations they said showed the companies did not collude in the state.
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Last month the state of Michigan blocked both Encana and Chesapeake from selling any leases picked up during state auctions and banned the pair from future lease sales while regulators seek to prosecute the companies.
Both companies are trying to ditch their Michigan holdings after lacklustre drilling results. [Emphasis added]
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