Chesapeake, Encana arraigned in Michigan on antitrust charges - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Chesapeake, Encana arraigned in Michigan on antitrust charges

Posted: Updated:
  • Local NewsMore>>

  • Local Car Dealership Discusses the Benefit of Recalls

    Local Car Dealership Discusses the Benefit of Recalls

    Friday, August 1 2014 6:37 PM EDT2014-08-01 22:37:11 GMT
    There have been many automotive recalls in recent months, but there is good news: July car sales reached an eight-year high.
    There have been many automotive recalls in recent months, but there is good news: July car sales reached an eight-year high.
  • Mountaineer Mall Area Robotics Hosts First FRC Competition in West Virginia

    Mountaineer Mall Area Robotics Hosts First FRC Competition in West Virginia

    Friday, August 1 2014 6:27 PM EDT2014-08-01 22:27:41 GMT
    It was the first of it's kind. The state of West Virginia has never hosted a First Robotics Competition until now. Twenty four teams, from 13 states and 2 countries, competed for the top spot at the WVU Recreation Center."The practice matches we did were the first FRC matches ever done in West Virginia," said Autumn Baker, a Mountaineer Area RoboticS team member. "That feels really good that we can sort of pioneer this type of event."Mountaineer Area Robotics (MARS) put together the event tha...
    It was the first of it's kind. The state of West Virginia has never hosted a First Robotics Competition until now. Twenty four teams, from 13 states and 2 countries, competed for the top spot at the WVU Recreation Center."The practice matches we did were the first FRC matches ever done in West Virginia," said Autumn Baker, a Mountaineer Area RoboticS team member. "That feels really good that we can sort of pioneer this type of event."Mountaineer Area Robotics (MARS) put together the event tha...
  • OMEGA, Make-A-Wish Launch Statewide Campaign

    OMEGA, Make-A-Wish Launch Statewide Campaign

    Friday, August 1 2014 6:24 PM EDT2014-08-01 22:24:49 GMT
    The West Virginia Oil Marketers & Grocers Association, also known as OMEGA, has launched a statewide campaign to raise funds for the Make-A-Wish foundation, and it's making dreams come true $1 at a time.
    The West Virginia Oil Marketers & Grocers Association, also known as OMEGA, has launched a statewide campaign to raise funds for the Make-A-Wish foundation, and it's making dreams come true $1 at a time.

Representatives of Chesapeake and Encana were arraigned in Michigan Wednesday, March 19, for allegedly trying to rig bids for leasing rights to properties in the state's Collingwood/Utica shale play.

The energy companies have been charged by Michigan Attorney General Bill Schuette with one count each of antitrust violations relating to a contract or conspiracy in restraint of commerce, a high court misdemeanor punishable by up to two years in prison and a fine of $10,000 for an individual or $1 million for a corporation.

Each also was charged with a misdemeanor count of attempted antitrust violations, punishable by up to one year and a $1,000 fine. Both companies have denied any wrongdoing.

In Michigan, public auctions of state-held oil and gas leases are held twice a year — in May and October — by the state's Department of Natural Resources. Both Chesapeake and Encana purchased natural gas leases for $1,510 an acre at a May 2010 public auction, but paid just $40 an acre at auction just five months later.

Schuette alleges the two rivals collaborated to avoid bidding wars that would have pushed lease prices up.

Chesapeake and Encana, meanwhile, waived their rights to a preliminary exam within 14 days, and Cheboygan District Court Judge Maria Barton set $20,000 personal recognizance bonds for both. They're due back in court in May.