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Oil companies to pay record FTC gun-jumping fine for antitrust law violation

Image of a boat spraying water at near an oil platform.
Photo: UPI/Bettmann Archive/Getty Images

Julie DiMauro

2 min read
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Companies must pay $5.6m for unlawful coordination that led to a crude oil supply shortage for one of the firms – right when the US was facing supply shortages.

The Federal Trade Commission (FTC) has announced that crude oil producers XCL Resources Holdings, LLC, Verdun Oil Company II LLC, and EP Energy LLC, will pay a record $5.6m civil penalty to settle allegations they engaged in illegal pre-merger coordination, known as gun jumping, in violation of the Hart-Scott-Rodino Act

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