Chesapeake Energy Now Accused of Violating Anti-Trust Laws

Chesapeake Energy Corporation (NYSE:CHK) is in trouble once again this morning after Reuters reported that the firm worked with Encana Corporation (TSE:ECA) to keep land prices artificially low. The two firms decided not to bid against each other and drive prices up according to emails between top executives in 2010.

The emails concerned the sale of oil and gas fields in Michigan in the same year. Conspiring to keep land prices low by agreeing not to bid each other up is certainly a mark of collusion and might be treated harshly should the...