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FTC, DOJ Submit Joint Comment to FERC Warning of Common Ownership Competition Risks in the Public Utilities Industry
FTC Statement on Amendment to Global Partners, Gulf Oil Acquisition
Federal Trade Commission Extends Public Comment Period on Proposed Improvements to the Energy Labeling Rule
XCL Resources Seeks FTC’s Prior Approval for Altamont Energy Acquisition
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.