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June 28th, 2012 
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Chesapeake Emails At Center Of Michigan Inquiry
News 9 Oklahoma – The Michigan Department of Natural Resources is looking into allegations that Chesapeake Energy and a competing energy company conspired to hold prices down during a 2010 land auction in that state. A spokesman for the department says they are “evaluating” information, including a series of emails between Chesapeake and Encana, an oil and gas company headquartered in Calgary, that could, some analysts say, be evidence of federal anti-trust violations.The emails were obtained by Reuters and form the centerpiece of a Reuters story detailing communication between Chesapeake and Encana in the summer of 2010, just a month after the two were the primary bidders in a highly competitive sale of public lands in Michigan. According to the Reuters report, the May 2010 auction raised a record $178 million on the sale of 118,000 acres. By contrast, five months later, in October 2010, the sale of 274,000 acres brought in $9.7 million. The average winning bid in the October auction was $46, compared to $1,413 in May. Read article
Tags: energy resources, North America
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