Oil Companies to Pay Record FTC Gun-Jumping Fine for Antitrust Law Violation
January 07, 2025
January 07, 2025
WASHINGTON, Jan. 7 -- The Federal Trade Commission issued the following news release:
Today, the Federal Trade Commission announced that crude oil producers XCL Resources Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) will pay a record $5.6 million civil penalty to settle allegations they engaged in illegal pre-merger coordination, known as gun jumping, in violation of the Hart-Scott-Rodino Act (HSR Act).
According to the complaint, Verd . . .
Today, the Federal Trade Commission announced that crude oil producers XCL Resources Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) will pay a record $5.6 million civil penalty to settle allegations they engaged in illegal pre-merger coordination, known as gun jumping, in violation of the Hart-Scott-Rodino Act (HSR Act).
According to the complaint, Verd . . .