Firms Accused Of Antitrust Behavior On Gas Leases

Two companies accused of promising not to compete against each other in auctions of four natural gas leases on federal land have each agreed to pay $275,000 under a proposed settlement of antitrust allegations.

A judge still must approve the proposed settlement for Gunnison Energy Corp., SG Interests I Ltd. and SG Interests VII Ltd.

Prosecutors say it’s the first time the Department of Justice has challenged an alleged anticompetitive bidding agreement for mineral rights leases.

Prosecutors allege Denver-based Gunnison Energy and Houston-based SG Interests agreed in 2005 that only SG Interests would bid on four Bureau of Land Management leases and then assign an interest in acquired leases to Gunnison Energy.

Gunnison Energy denies wrongdoing but says it is settling to avoid expensive litigation. SG Interests hasn’t commented publicly.