Royalty Owners File Suit Against Chesapeake and SandRidge

Chesapeake Energy and SandRidge Energy were charged with working to rig the bidding and limit competition for oil and gas acreage in Oklahoma. The Class Action suit charged Chesapeake and Sand Ride with making illegal profits and attempts to defraud royalty owners. Chesapeake CEO, Aubrey McClendon was indicted earlier in the week by the U.S. Justice Department. ," U.S. Assistant Attorney General Bill Baer said "His actions put company profits ahead of the interests of leaseholders entitled to competitive bids for oil and gas rights on their land."