A PYMNTS Company

US: Justice Department drops its investigation of SandRidge Energy

By  |  April 17, 2016

SandRidge Energy is no longer the target of a US Department of Justice antitrust investigation.

The Oklahoma City-based oil and natural gas company said Friday the government has dropped its grand jury investigation of possible antitrust violations in the purchase or lease of land, oil or natural gas rights from 2012 and prior years.

A SandRidge spokesman declined further comment Friday beyond the company’s one-sentence regulatory filing.

While SandRidge is no longer being investigated, a Justice Department spokesman said Friday the investigation into the oil and natural gas industry is ongoing.

SandRidge previously disclosed that in December 2013 it received a subpoena from the Justice Department concerning the federal investigation. In April 2015, the Justice Department told the company the grand jury in the western district of Oklahoma was involved.

Full Content: Reuters

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