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

 |  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.

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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