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US: Chesapeake to pay $25 million to settle antitrust allegations

By  |  April 26, 2015

Chesapeake Energy has agreed to pay $25 million to settle antitrust allegations made by Michigan’s attorney general, as well as complaints that it misled hundreds of landowners to obtain leases in the state.

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    Michigan Attorney General Bill Schuette filed criminal charges against the company last year. He accused Chesapeake CHK, +0.00% of colluding with Encana Corp. ECA, -0.28% another oil and gas producer, to keep the price of natural gas leases in the state artificially low. In a separate case, Schuette’s office also filed racketeering and false pretenses charges against Chesapeake, saying the company had defrauded lease owners.

    Chesapeake has previously called the cases meritless. On Friday a spokesman said the Oklahoma City-based company was happy to have settled the matter.

     

    Full Content: The Wall Street Journal

     

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