FTC Release: Oil Companies to Pay Record FTC Gun-Jumping Fine for Antitrust Law Violation

Dow Jones

08 Jan

XCL Resources, EP Energy, Verdun Oil to pay $5.6 million penalty for unlawful coordination that led to crude oil supply shortage for EP

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).

View Press Release: https://www.ftc.gov/news-events/news/press-releases/2025/01/oil-companies-pay-record-ftc-gun-jumping-fine-antitrust-law-violation

(END) Dow Jones Newswires

January 07, 2025 11:18 ET (16:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Today, the Federal Trade Commission announced that crude oil producers XCL Resources Holdings, LLC , Verdun Oil Company II LLC , and EP Energy LLC  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 .","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EP":"Empire Petroleum Corp","FTC":"First Trust Large Cap Growth Opp","BK4213":"石油与天然气的勘探与生产"},"translate_title":"FTC发布：石油公司将因违反反垄断法而支付创纪录的FTC抢跑罚款","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EP":1,"FTC":1},"content_text":"XCL Resources, EP Energy, Verdun Oil to pay $5.6 million penalty for unlawful coordination that led to crude oil supply shortage for EP \n\n\n     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). \n\n\n  View Press Release: https://www.ftc.gov/news-events/news/press-releases/2025/01/oil-companies-pay-record-ftc-gun-jumping-fine-antitrust-law-violation \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 07, 2025 11:18 ET (16:18 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1}}}