# 2025-05498: Investors Push FTC to Cut Red Tape Chains

2025-05498, Petition of EnCap Investments L.P., et al., To Reopen and Modify Order, is a Federal Register notice from Federal Trade Commission published 2025-03-31, effective Comments must be received on or before April 30, 2025.; PRIA reads it as touching household money (as of 2026-10-06).

- Canonical: https://policyrisk.com/federal-register/2025-05498
- As of: 2026-10-06
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-05498
- Title: Petition of EnCap Investments L.P., et al., To Reopen and Modify Order
- Type: Notice
- Agencies: Federal Trade Commission
- Citation: 90 FR 14257
- Published: 2025-03-31
- Effective: Comments must be received on or before April 30, 2025.
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-10-06

## In one line

Investors Push FTC to Cut Red Tape Chains

## Summary

EnCap Investments and partners want the FTC to reopen a 2022 order and remove some rules that require their prior approval. This could change how these companies operate and speed up their business moves. The public can share their thoughts by April 30, 2025, before the FTC decides within 120 days whether to make these changes official.

## Abstract

EnCap Investments L.P. ("EnCap"), EnCap Energy Capital Fund XI, L.P., Verdun Oil Company II LLC ("Verdun"), XCL Resources Holdings, LLC ("XCL"), and EP Energy LLC ("EP Energy") have asked the Federal Trade Commission ("FTC" or "Commission") to reopen and set aside the Commission's Decision and Order entered on September 13, 2022, to remove certain prior approval requirements. Publication of their petition is not intended to affect its legal status or its final disposition.

## Effects PRIA read

- Prior-approval bars many Uinta deals: cost, high. Under the 2022 FTC Order, EnCap, Verdun, and XCL cannot complete certain Uinta Basin transactions without prior Commission approval. Prior approval is required for any Relevant Area producer that averaged more than 2,000 barrels per day of waxy crude over the six months before an acquisition, or fo…
- Prior-approval creates delay, uncertainty: cost, high. The Order forces parties to file a prior-approval application, which is posted for public comment (a 30-day comment period) and allows the Commission unlimited time to decide. The petition states that the process caused parties to spend hundreds of hours and millions of dollars negotiating and that…
- Order remains in force through Sept. 2032: cost, medium. The prior-approval provision of the 2022 Order is scheduled to remain effective until September 2032 (nearly eight more years from the petition). Respondents argue that market conditions in the Relevant Area have changed since 2022, but the restriction would continue unchanged unless the Commission…
- Divestiture buyer also subject to approval: cost, medium. Section XI of the Order requires Crescent (the divestiture buyer) to obtain the Commission's prior approval before selling, licensing, or conveying the divested Uinta assets to any Relevant Area producer. The petition states this limitation reduces the likelihood that the divested assets will be ma…

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## Sources
- [2025-05498 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/31/2025-05498/petition-of-encap-investments-lp-et-al-to-reopen-and-modify-order)
- [2025-05498 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-31/pdf/2025-05498.pdf)

## Related
- [Previous: 2025-05497, Agency Information Collection Activities: Information Collection Renewal; Comme…](https://policyrisk.com/federal-register/2025-05497)
- [Next: 2025-05500, Notice of Public Meeting of the Puerto Rico Advisory Committee to the U.S. Comm…](https://policyrisk.com/federal-register/2025-05500)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-05498 (as of 2026-10-06).