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Violation Tracker Individual Record

Company: Chesapeake Energy Corp.
Current Parent CompanyChesapeake Energy
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $25,000,000
Year: 2015
Date: April 24, 2015
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Chesapeake Energy Corp. agreed to pay $25 million to a victims compensation fund in settlement of allegations it conspired with Encana Oil & Gas to avoid bidding wars for Michigan oil and gas leases. It also pleaded guilty to one count of attempted antitrust violations, a misdemeanor, and one count of false pretenses, a misdemeanor. Criminal sentencing was suspended on condition of abiding by settlement terms. Encana settled the allegations against it in 2014
Level of Government: state
Action Type: agency action
Agency: Michigan Attorney General
Civil or Criminal Case: criminal
Facility State: Michigan
HQ Country of Current Parent: USA
HQ State of Current Parent: Oklahoma
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: oil and gas
Specific Industry of Current Parent: oil & gas
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.