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US: Gas cos agree to even steeper penalty, fine nearly doubled

By  |  April 22, 2013
US: Gas cos agree to even steeper penalty, fine nearly doubled

Two of the nation’s largest natural gas companies have reportedly agreed to have fines issued by the US Department of Justice nearly doubled after the companies were implicated for a 2005 collusion scheme. According to reports, Gunnison Energy and SG Interests will pay $1 million to the DOJ in a revised deal that nearly doubles the original monetary damages. The two companies were found to have conspired to buy federal leases for lower prices. The original settlement was rejected by US District Senior Judge Richard P. Matsch, who described Gunnison as having “unrepentant arrogance.”

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