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FTC Requests Public Comment on EnCap, Verdun, XCL Petition to Modify Order
Oil Companies to Pay Record FTC Gun-Jumping Fine for Antitrust Law Violation
Chevron Corporation and Hess Corporation; Analysis of Agreement Containing Consent Order To Aid Public Comment
Statement of Chair Lina M. Khan Joined by Commissioner Rebecca Kelly Slaughter and Commissioner Alvaro Bedoya in the Matter of Chevron Corporation and Hess Corporation
FTC Order Bans Hess CEO from Chevron Board in Chevron-Hess Deal
EnCap/EP Energy, In the Matter of
The Federal Trade Commission will require the divestiture of energy producer EP Energy Corp.’s entire business and assets in Utah. The divestiture will resolve the agency’s allegations that EnCap Energy Capital Fund XI, L.P.’s proposed $1.445 billion acquisition of EP Energy Corp. would eliminate head-to-head competition between two of only four significant producers and otherwise harm competition for the sale of Uinta Basin waxy crude oil to Salt Lake City refiners. According to the complaint, the proposed acquisition could also increase the likelihood of collusion or coordination among the remaining competitors in the Uinta Basin. On Sept. 14, 2022, the Commission announced the final consent agreement in this matter.