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BP to pay Louisiana about $350 million to close Deepwater Horizon leftovers
- Louisiana Illuminator is now reporting this
- New headline Was: “BP, Louisiana agree to resolve Deepwater Horizon disputes”
- Our desk filed its story
BP and Louisiana on Friday agreed that the company will make a single early payment of about $350 million for remaining Deepwater Horizon economic damages and that leftover coastal zone lawsuits involving BP will be resolved1,2.
Louisiana Illuminator reported that all but $373 million of more than $6 billion directed to the state from the 2010 disaster settlement had already been paid, with the rest previously due over the next seven years1.
BP said the state will take the $350 million lump sum instead, according to the paper’s account of the company’s news release1. Reuters likewise described an early payment of about $350 million2.
The 2010 Deepwater Horizon explosion killed 11 workers and leaked about 168 million gallons of oil along the Gulf Coast, the Illuminator reported1.
Paul Takahashi, a BP spokesman, told the Illuminator that terms of the coastal litigation agreement are confidential and that it resolves outstanding coastal zone lawsuits and similar claims against BP by the parishes and the state1.
Statements from Gov. Jeff Landry and Attorney General Liz Murrill appeared in BP’s release; neither office immediately answered the paper’s questions seeking more detail1. Landry said in the release, in part, that the state had “disposed of claims and settled with all but one of the major defendants” in coastal cases1.
The Illuminator said the BP agreement is separate from other parish legacy settlements with companies including Shell and ExxonMobil, and that Chevron remains in an active Plaquemines Parish case after a $745 million award in March 20251.
Reuters did not report those remaining-balance figures, the confidential-terms comment, or the Chevron case2. What parish governments will receive, if anything, from the coastal-suit resolution was not disclosed in either account1,2.
Sources
How it’s being reported
2 sourcesBP, Louisiana leaders agree on Deepwater Horizon settlement payout to ‘resolve’ coastal lawsuits
The discount from $373 million still owed, confidential coastal-suit terms, and that Chevron remains the last major parish defendant.
Louisiana takes a $350 million lump sum instead of $373 million over seven years and ends remaining parish coastal suits against BP, the paper reports from BP’s release and a spokesman.
Leaves out BP’s 2015 settlement totals and the share of remaining Gulf-state payments.
BP, Louisiana agree to resolve Deepwater Horizon disputes
Gives this outlet’s account of the story.