Multiple investigations launched after Chesapeake-Encana emails discovered

Following Reuters’ special investigation uncovering emails outlining bid-rigging plans between Chesapeake Energy Corp. and Encana Corp., the U.S. Department of Justice is probing the two companies, according to a source. Other sources added that the Michigan Attorney General’s office and the state Department of Natural Resources were also investigating the implications of collusion raised by the emails. Furthermore, Rep. Maurice Hinchey (D-NY) asked U.S. Attorney General Eric Holder to open an antitrust investigation into oil and gas bid-rigging in the U.S.

Emails between the two companies, including missives from Chesapeake CEO Aubrey McClendon, called for arrangements to avoid “bidding each other up” for land auctions in Michigan. The land was in the Collingwood Shale formation. Such arrangements included dividing up the land between the companies and bidding strategies.

Full content: Reuters

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