Real price fixing is at the hands of the OCC

Last week Chesapeake Energy Corp., SandRidge Energy Inc., and Tom Ward, co-founder of Chesapeake and founder of SandRidge, agreed to settle civil litigation regarding claims that they conspired to suppress oil and gas lease prices in Oklahoma.

The late Aubrey Mc- Clendon, Ward’s co-founder of Chesapeake, was even indicted by a federal grand jury for allegations of criminal misconduct of the same. The case was dropped by the Justice Department after McClendon’s tragic and untimely death in March of 2016. In the settlement last week, the two companies, nor Mr. Ward, admitted to any wrong doing, but settled to end the civil litigation for $6.95 million.

 

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