New Orleans judge gives final approval to BP Macondo settlement

US District Judge Carl Barbier in New Orleans gave final approval to BP PLC’s settlement in a class action lawsuit with a number of businesses and individuals regarding the April 2010 oil spill in the Gulf of Mexico from the deepwater Macondo well off Louisiana.

BP estimates it will pay $7.8 billion to resolve economic and medical claims from more than 100,000 businesses and individuals although the settlement has no cap. BP could wind up paying more or less than that amount (OGJ Online, Mar. 6, 2012).

Barbier released a final 125-page ruling late Dec. 21 after giving his preliminary approval earlier in the year. He noted that he found none of the objections filed “have shown the settlement to be anything other than fair, reasonable, and adequate.”

BP responded that it considers the settlements to be in the best interests of many.

“We believe the settlement, which avoids years of lengthy litigation, is good for the people, businesses and communities of the gulf and is in the best interests of BP’s stakeholders,” a BP spokesman said.

BP operated the Macondo well. A blowout triggered a fire and explosion that killed 11 workers on Transocean Ltd.’s Deepwater Horizon semisubmersible drilling rig and resulted in a massive oil spill.

Barbier noted much litigation remains pending, including environmental damages with the US government under the Clean Water Act.

Related Articles

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

MARKET WATCH: Front-month crude oil contract closes up, gas down on week

03/24/2014

The front-month crude oil contract ended the week higher Mar. 21 while natural gas futures prices edged slightly lower.

HSC remains closed, fuel cleanup continues after barge collision

03/24/2014 The Houston Ship Channel (HSC) remained closed to unauthorized vessels Mar. 24 as the result of a temporary emergency safety zone being established...

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected