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Chesapeake Energy Corporation Accused Of Collusion In Reuters Report

Reuters obtained emails that could be provided as evidence of collusion by the Chesapeake Energy Corporation. That's a little worse than losing the NBA Finals in your first trip, no?

By Brandon Scott
Jun 14, 2012; Oklahoma City, OK, USA; A general view before tip off of game two in the 2012 NBA Finals between the Oklahoma City Thunder and the Miami Heat at Chesapeake Energy Arena. Mandatory Credit: Derick E. Hingle-US PRESSWIRE
Jun 14, 2012; Oklahoma City, OK, USA; A general view before tip off of game two in the 2012 NBA Finals between the Oklahoma City Thunder and the Miami Heat at Chesapeake Energy Arena. Mandatory Credit: Derick E. Hingle-US PRESSWIRE

An exchange of emails between Chesapeake Energy and rival Encana indicating an intent to avoid bidding against each other in land auctions and other prospective deals with private land owners were obtained by Reuters. The information in these emails could provide evidence of collusion, bid-rigging and market allocation.

Under the direction of CEO Aubrey McClendon, RS and the Securities and Exchange Commission have launched inquiries into other shady Chesapeake dealings as well, like the $1.3 billion in personal loans McClendon supposedly took from a firm that also finances Chesapeake, which also had him stripped from his chairmanship by the company board.

The Oklahoma City Thunder's home arena, perhaps the loudest in the NBA, is named after the Chesapeake Energy Corporation, the second-largest natural gas producer in the United States. McClendon is an Oklahoma City-native.

Here's that Reuters link again with the full report, in case you missed it in the first graph.

Read news on the Thunder at Welcome To Loud City. As always, SB Nation Kansas City is your source for local sports news coverage and analysis.