BP, Louisiana Agree to Deepwater Horizon Settlement Payout, Resolve Coastal Cases
The deal resolves all remaining coastal damage lawsuits and leaves Louisiana with a final $350 million BP payment, the company said.
- On Friday, Louisiana Governor Jeff Landry, Attorney General Liz Murrill, and BP CEO Meg O'Neill signed an agreement resolving remaining Deepwater Horizon claims, securing an immediate $350 million lump-sum payment for the state.
- BP converts its remaining $373 million in scheduled Economic Damages Settlement payments into the immediate $350 million disbursement, while also ending all remaining parish-level coastal zone lawsuits involving the company.
- Governor Landry framed the resolution as improving the state's legal climate for industry partners, while O'Neill stated the deal "accelerates the delivery of our commitments," signaling Louisiana welcomes economic growth and responsible stewardship.
- Landry has settled with all major coastal defendants except Chevron, which faces a $745 million verdict in Plaquemines Parish currently being challenged in the U.S. 5th Circuit Court of Appeals.
- Louisiana loses a football field of land every 84 minutes on average, according to USGS data, while restoration funding from the 2010 BP spill expires by 2032, creating a looming coastal crisis.
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The Advocate
shreveportbossieradvocate.comLouisiana settles with BP on coastal damage. One major company remains.
The secret nature of the coastal damage settlements have raised concerns over whether the state has been too generous in the terms.
BP, Louisiana agree to resolve Deepwater Horizon disputes - Regional Media News
Oct 23 (Reuters) - BP and the US state of Louisiana on Friday agreed to resolve two long-running disputes tied to the 2010 Deepwater Horizon oil spill, including a single early payment of about $350 million and the settlement of remaining coastal zone lawsuits involving [...]
Louisiana Illuminator
KTBSBP, Louisiana leaders agree on Deepwater Horizon settlement payout to ‘resolve’ coastal lawsuits
Louisiana has agreed to a lump-sum payment for the remainder of what BP owes from the Deepwater Horizon disaster settlement. It will also bring to an end the remaining lawsuits that parishes have brought against the company for related coastal damages, according to a news release BP issued Friday.
BP, Louisiana agree to resolve Deepwater Horizon disputes
Oct 23 (Reuters) - BP and the US state of Louisiana on Friday agreed to resolve two long-running disputes tied to the 2010 Deepwater Horizon oil spill, including a single early payment of about $350 million and the settlement of remaining ...
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