Justice Department Probes Chesapeake, Encana

07/02/2012| 04:35pm US/Eastern

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The U.S. Justice Department has opened an investigation into allegations that Chesapeake Energy Corp. (>> Chesapeake Energy Corporation) and Encana Corp. (ECA) colluded over Michigan land deals, Reuters reported Monday, citing a source close to the probe.

Reuters reported last week that top executives at the rival natural-gas companies exchanged emails in 2010 on how to avoid driving up land prices in Michigan.

Spokesmen from the Justice Department and Chesapeake declined to comment to Reuters, while a spokesman at Encana didn't immediately respond to requests for comment.

Full story at http://www.reuters.com/article/2012/07/02/us-chesapeake-land-deals-probe-idUSBRE8 117H20120702

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