Chesapeake subpoenaed by DOJ, states over royalty payments
Nov. 06, 2014 2:33 PM ETChesapeake Energy Corporation (CHK)CHKBy: Carl Surran, SA News Editor1 Comment
- Chesapeake Energy (CHK -0.3%) discloses that it has received subpoenas from the U.S. Justice Department and states seeking information on its royalty payment practices to mineral owners.
- CHK is facing several lawsuits from landowners and others who say it has underpaid royalties for natural gas and natural gas liquids through the use of improper deductions or below-market pricing.
- CHK, which also is being probed by the DoJ and states over possible antitrust violations related to land purchases, says it is responding to the subpoenas.