A PYMNTS Company

US: DOJ concludes probe of energy firm land-leasing practices

By  |  May 1, 2014

The US Department of Justice has reportedly sent letters to two companies it was investigating over allegations of anticompetitive land-leasing practices, notifying the firms that its investigation has concluded.

Chesapeake Energy and Canada-based Encana were under DOJ scrutiny over allegations that the firms colluded to divide bidding plans to lease land in Michigan. After reports of the alleged collusion, the DOJ opened a probe into the matter in 2012.

The firms conducted their own internal reviews of the claims but found no evidence of such bid-rigging.

In a statement, Encana said it is “very pleased” that the DOJ has ended its investigation. The regulator’s letter to the companies was not released to the public.

While the DOJ case is over, reports say the companies still face state-level charges over the issue.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.