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Summary

The Federal Trade Commission (FTC) is a government agency that enforces federal laws related to competition and consumer protection. The agency aims to prevent anticompetitive, deceptive, and unfair business practices. The FTC provides resources and guidance for businesses to comply with the law, including legal libraries, policy statements, and consumer advice.

The FTC also offers consumer protection education and guidance on topics such as identity theft, scams, and financial readiness for servicemembers. The agency's mission is to protect consumers and competition while preventing burdens on legitimate business activities.

In recent news, the FTC invites public comment on a pending oil and gas acquisition by XCL Resources Holdings, LLC, a subsidiary of private equity firm EnCap Investment L.P. The agency seeks comments on the proposal, which is subject to approval under a 2022 final order.

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We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices.

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We work to advance government policies that protect consumers and promote competition.

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About the FTC

Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity.

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For Release

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FTC invites public to comment on pending oil & gas acquisition

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The Federal Trade Commission is requesting public comment on an application from XCL Resources Holdings, LLC, a subsidiary of private equity firm EnCap Investment L.P., seeking prior approval from the agency to complete its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in the Uinta Basin region of Utah.

XCL’s petition to the FTC stems from the Commission’s 2022 final order regarding EnCap Energy Capital Fund XI, L.P.’s $1.445 billion acquisition of EP Energy Corp. Under the terms of the final settlement, EnCap and XCL are required to obtain prior approval before acquiring any other producer of waxy crude oil with an output of more than 2,000 barrels per day in the Utah counties of Duchesne, Uintah, Utah, Grand, Emery, Carbon and Wasatch.

XCL is a private equity-owned oil and gas company based in Houston, Texas. It currently owns and operates wells in Duchesne and Uinta Counties, Utah, where it extracts black and yellow waxy crude oil and natural gas.

After the application is published in the Federal Register, the public will have 30 days to submit comments at Regulations.gov. Once submitted, comments will be posted to Regulations.gov.

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The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint.  For the latest news and resources, follow the FTC on social mediasubscribe to press releases and read our blog.

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Office of Public Affairs

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415-848-5121

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Summary

The Federal Trade Commission (FTC) is a government agency responsible for enforcing federal laws that promote competition and protect consumers from anticompetitive, deceptive, and unfair business practices. The agency’s mission is to “protect consumers and competition by preventing anticompetitive

Federal Trade Commission

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