Chesapeake Energy Royalty Practice Investigated
Chesapeake Energy's royalty payment practice is being investigated by the U.S. Department of Justice and several states.
The company says in a recent regulatory filing that it has received subpoenas from the federal agency and the states seeking information on its royalty payment practice.
The filing with the Securities and Exchange Commission also says Chesapeake's purchase and lease of oil and gas rights in various states is being investigated. The states weren't identified.
Chesapeake spokeswoman Lindsay McIntyre tells The Intelligencer and Wheeling News-Register that the company declines comment beyond statements made in the filing.