SandRidge Says It Is No Longer Target of Antitrust Probe

SandRidge Says It Is No Longer Target of Antitrust Probe
Oil and gas producer SandRidge Energy says it's no longer a target of a federal grand jury probe concerning antitrust violations related to leasing of oil and gas properties.

Reuters

April 15 (Reuters) - Oil and gas producer SandRidge Energy Inc said on Friday the company was no longer a target of a federal grand jury probe concerning antitrust violations related to leasing of oil and gas properties.

The Oklahoma-based company had said in May the leasing transactions subject to the government's inquiry date from 2012 and prior years.

SandRidge was told in April last year by the U.S. Department of Justice that it was a target of an Oklahoma grand jury.

The U.S. Department of Justice notified the company of the end of the probe on Thursday, the company said in a regulatory filing.

Among the companies subject to a 2012 DOJ probe for potential antitrust violations related to oil and gas land leasing were Chesapeake and Canada's Encana Corp.

Chesapeake and Encana said in April 2014, that the DOJ probe into potential antitrust violations had ended.

The late Aubrey McClendon, who co-founded Chesapeake Energy Corp, was also under investigation by the DOJ for potential violations related to leasing oil and gas properties, and was subsequently charged before his death.

Chesapeake said, in March, it was unlikely to face criminal prosecution or fines

(Reporting by Amrutha Gayathri and Vishaka George in Bengaluru; Editing by Shounak Dasgupta)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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