Oil Companies' HSR "Gun Jumping" Violation Leads to Record $5.6 Million Fine
January 11, 2025
January 11, 2025
NEW YORK, Jan. 11 -- Fried, Frank, Harris, Shriver and Jacobson LLP, a law firm, issued the following news release:
Three oil and gas companies have agreed with the DOJ to pay a record $5.6 million civil penalty for violating the HSR Act by allowing the buyer, Verdun Oil Company, and its sister company, XCL Resources Holdings, to assume operational and decision-making control over the target business, EP Energy, prior to closing, including by taking actions pursuant to the interim o . . .
Three oil and gas companies have agreed with the DOJ to pay a record $5.6 million civil penalty for violating the HSR Act by allowing the buyer, Verdun Oil Company, and its sister company, XCL Resources Holdings, to assume operational and decision-making control over the target business, EP Energy, prior to closing, including by taking actions pursuant to the interim o . . .