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Author Topic: Chesapeake gets dinged for 25 million in Michigan  (Read 4802 times)

macal

  • Posts: 8890
Chesapeake gets dinged for 25 million in Michigan
« on: April 24, 2015, 05:35:35 PM »
.
    Justice ?

duffy

  • Posts: 2803
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #1 on: April 24, 2015, 09:40:10 PM »
Nope, different circumstances

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #2 on: April 25, 2015, 05:55:47 AM »

  Yea Duff. Anti trust and racketeering charges for colluding with Encana to suppress lease prices in Michigan. Chesapeake paid $25,000,000. Encana previously paid $5,000,000. Just another game they play. Chesapeake has a pretty good rap sheet. ???

aubrey

  • Posts: 14031
  • NEWBIE
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #3 on: April 25, 2015, 06:48:54 AM »
any time there's money being made the government is gonna get their cut, either by taxing it or fining it.

it's the progressive way.

wj
CHANGE IT BACK!

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #4 on: April 25, 2015, 07:00:10 AM »

  I'm with Michigan on this. Hope PA follows suit.

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #5 on: April 25, 2015, 04:07:52 PM »
any time there's money being made the government is gonna get their cut, either by taxing it or fining it.

it's the progressive way.

wj

    The $25,000,000 is going to a COMPENSATION FUND. I take that to mean it will be going to the landowners involved in this scam.

aubrey

  • Posts: 14031
  • NEWBIE
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #6 on: April 25, 2015, 05:05:38 PM »
that should trip your trigger, redistribution at its' finest.

25 million for nothing.

wj
CHANGE IT BACK!

aubrey

  • Posts: 14031
  • NEWBIE
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #7 on: April 25, 2015, 05:07:08 PM »

  I'm with Michigan on this. Hope PA follows suit.

you don't listen well.

like duffy said, this case has no parallel in pa.

wj
CHANGE IT BACK!

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #8 on: April 25, 2015, 05:26:15 PM »

   Its similar. The people of each state have raised so much hell because Chesapeake has been just abusing them that the politicians have been forced to call for an investigation. Michigan laid down the law. Time for PA. Just saying. It's your tax dollars paying for it. handclap

duffy

  • Posts: 2803
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #9 on: April 25, 2015, 07:15:34 PM »
Just how did Michigan lay down the law? Leases were the deal there, in PA it's royalty issues AND lease terms that are being disputed, you can try to compare all you want but not the same

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #10 on: April 25, 2015, 07:26:06 PM »

  Racketeering. They have that in common.

duffy

  • Posts: 2803
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #11 on: April 25, 2015, 07:27:26 PM »
Nope

aubrey

  • Posts: 14031
  • NEWBIE
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #12 on: April 25, 2015, 07:35:53 PM »
and he thinks bush is an idjit.  slaplaugh

wj
CHANGE IT BACK!

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #13 on: April 25, 2015, 07:44:42 PM »

  I guess we will see fairly soon.

macal

  • Posts: 8890
Re: Chesapeake gets dinged for 25 million in Michigan
« Reply #14 on: April 26, 2015, 06:07:49 AM »
Chesapeake reaches $25M settlement over Michigan leasing charges
Fri, Apr 24, 2015 • CHK
Chesapeake Energy (CHK -0.2%) will create a $25M compensation fund as part of a settlement of antitrust and racketeering charges brought by the state of Michigan, Reuters reports.
CHK also agrees to plead no contest to one count each of attempted antitrust violation and false pretenses, charges that the court would dismiss after 11 months if CHK adheres to the settlement terms.
The antitrust charge brought by the Michigan AG alleged that CHK colluded with a competitor, Encana, to suppress oil and gas land lease prices at a 2010 state land lease auction; Encana agreed to pay $5M in a civil settlement with the state in May 2014.
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Comments (6)

liegh aulper
Apr 24 03:33 PM
Encana got away with a 5 mil and we're stuck with 25 mil because mgt wouldn't settle?? can some explain that to me?

wildcathouston
Apr 24 03:54 PM
Chesapeake initiated the conspiracy (it's time we smoke the peace pipe).

1712671
Apr 24 04:02 PM
At least another part of the previous mgm negative legacy will be behind us. Another obstacle or unknown gone so it don't scare off potential buyers. This settlement is a positive for Chk future.

oilin07
Apr 24 05:25 PM
CHK going higher next week . $16's

stag15
Apr 24 06:04 PM
Why on a Friday?

David Woroner
Apr 24 09:06 PM
Just the state gettin paid. No matter what, the bureaucrats & lawyers gotta get theirs. This is standard fare for EU. Im long...

 


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