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Encana clears itself of collusion charges

Canada’s largest natural gas producer Encana has cleared itself in an internal investigation over allegations that it colluded with Chesapeake Energy in US land purchases, but still faces a potentially costly federal anti-trust investigation over the matter

Calgary-based Encana concluded that its employees did no wrong in relation to a series of land purchases in Michigan’s Collingwood shale play in 2010. The company has been accused by the US of conspiring with Oklahoma City-based Chesapeake Energy to keep land prices artificially low by avoiding competitive bidding for the same leases. The company has received a subpoena from the Antitrust Division of the US Department of Justice, along with a civil investigatory demand from the Michigan Attorney General. The company said it would continue to fully cooperate with the investigations of both agencies. Encana authorized its chairman, David O'Brien, in June to oversee an investigation into the

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