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Chesapeake says e-mails contradict Michigan collusion charges

  • Chesapeake Energy (CHK +2.1%) is fighting back against collusion charges, accusing Michigan authorities of cherry picking internal documents to support their contention it colluded with Encana (ECA -0.9%) in dividing up oil and gas lease bids in the state.
  • Michigan authorities have charged the companies with driving down the price of oil leases by conspiring over which counties each would seek resource exploration rights during a May 2010 auction.
  • Among the evidence the state's lawyers say back up their accusations are CHK e-mails suggesting the firms "throw in 50/50" on the bids, but in new court filings, CHK cites other parts of the same e-mails to show former CEO Aubrey McClendon was open to competition.
Comments (2)
  • DAVE22Q
    , contributor
    Comments (290) | Send Message
     
    PICKING OUT THE PARTS THAT INDICATE GUILT IS NOT INAPPROPRIATE. IT IS STANDARD PROCEDURE. SOUNDS LIKE TERRIFIED DEFENSE LAWYERS TO ME.
    27 May, 02:57 PM Reply Like
  • mjb0909
    , contributor
    Comments (148) | Send Message
     
    Michigan will do anything to make up for their "jewel" city sitting on the banks of the Detroit River!
    27 May, 07:13 PM Reply Like
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