Chesapeake and Encana Not Safe From Collusion Fallout Yet

After Reuters reported that Chesapeake Energy and Canadian energy firm Encana were under investigation for violating antitrust laws by colluding to pay less to Michigan landowners for leases, Encana quickly conducted an internal investigation and cleared themselves of any wrongdoing.  Chesapeake recently followed suit.

But it doesn't look like everyone considers their self-examination convincing.

From Dory Hippauf's "No Fracking Way" blog:
Northstar Energy which owns nearly 10,000 acres in Michigan’s Utica-Collingwood oil and gas shale formation, filed the lawsuit against Chesapeake and Canadian firm Encana in Michigan federal court Friday.
The U.S. Department of Justice and the attorney general in Michigan continue to investigate whether the firms violated antitrust laws in Michigan, and issued them subpoenas last June.
The Northstar lawsuit sheds new light on the communications between the top executives of the rival energy firms.
In a previously undisclosed email exchange obtained by Northstar, Chesapeake’s McClendon forwarded the draft proposals to divide up the Michigan counties and landowners to Eresman and Wojahn on June 15, 2010. He wrote, “Fyi, pushing to save us both some money, Aubrey.”
Eresman responded a few hours later. “Agreed. The sooner the better. Thanks for continuing to move this forward. Randy.”
Read the entire post here.

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