The Federal Trade Commission is inviting public comments on a petition to reopen and amend a 2022 final consent order related to Verdun Oil Company II LLC’s acquisition of EP Energy LLC. The 2022 order addressed concerns about the acquisition's impact on competition for the sale of Uinta Basin waxy crude oil to Salt Lake City refiners. It mandated the divestiture of EP’s business and assets in Utah and required Verdun, XCL Resources Holdings, LLC, and their parent entities, EnCap Energy Capital Fund XI, L.P. and EnCap Investments L.P., to seek prior approval before engaging in specific acquisition transactions in several Utah counties.
A petition has been filed with the Commission by relevant parties to remove the prior approval requirement from the final consent order for EnCap, Verdun, and XCL. The petition argues that significant changes, such as EnCap’s and XCL’s withdrawal from crude oil exploration and production in the Uinta Basin after selling related assets in 2024, warrant the removal of the requirement.
Comments on the petition need to be submitted by May 2, 2025, through Regulations.gov, with filing instructions detailed on the docket. Once processed, these comments will be available for public viewing on Regulations.gov. After the comment period ends, the Commission will decide on the application.
The Federal Trade Commission aims to promote competition, and protect and educate consumers. "The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize." Consumers can learn more about how competition benefits them or file an antitrust complaint. For the latest updates, follow the FTC's social media, subscribe to press releases, or visit their blog.
