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Industry Brief

Encana Corp. on Monday agreed to pay a $5 million fine and pleaded no contest to charges that it attempted to commit antitrust violations in connection with a 2010 oil and gas lease sale in Michigan. Chesapeake Energy Corp. indicated that it plans to continue to fight the charges. Both companies were formally charged in March by Michigan officials for allegedly collaborating in 2010 to avoid bidding against each other in a lease sale (see Daily GPIMarch 6). The U.S. Department of Justice, which had been conducting a parallel investigation, has dropped its charges against both companies (see Daily GPIMay 1).

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