BP and Louisiana agree to resolve long-standing matters related to Deepwater Horizon spill
BP•BP•BP•BP•BP will pay Louisiana $350 million early to settle remaining Deepwater Horizon economic damages, and remaining coastal zone lawsuits brought by Louisiana parishes to which BP is a party will be resolved.
BP and the state of Louisiana agreed to resolve long-standing matters related to the Deepwater Horizon spill. BP will make an early lump-sum payment of $350 million for remaining economic damages, and remaining coastal zone lawsuits brought by Louisiana parishes to which BP is a party will be resolved.
Under a 2015 settlement, $4.9 billion is payable over 18 years to settle economic and other claims made by five Gulf Coast states. BP said the Louisiana agreement represents more than 20% of its outstanding payments to the states under the economic damages settlement.
