Anadarko to Pay BP $4 Billion for Deepwater

WSJ ^ | 17 Oct 2011 | Guy Chazan

[smokingfrog]

LONDON—Anadarko Petroleum Co. agreed to pay BP PLC $4 billion to settle all claims between the two companies arising from the Gulf of Mexico oil spill, a development that reduced uncertainty about the British oil giant's ultimate liability for last year's disaster.

Anadarko also will drop its allegations of gross negligence against the oil giant, a move which could increase the pressure on contractors Halliburton Co. and Transocean Ltd. to come to terms with BP.

Legal observers say Anadarko's move was seen as likely after a final report by U.S. investigators last month into the causes of the Deepwater Horizon disaster spread blame for the accident across a number of companies, rather than singling out BP.

The U.K.-based oil company has set aside $41 billion to pay costs and fines from the Deepwater Horizon disaster, caused when a well it was drilling in the Gulf of Mexico exploded, killing 11 workers and triggering the worst offshore oil spill in U.S. history.

BP has fought to claw back some of this money from Transocean and Halliburton, and from its partners in the Macondo well. Transocean and Halliburton have consistently argued that their contracts with BP indemnified them against claims relating to pollution from the well.

[bandleader]

When do “We,The People”lodge OUR complaints against(No-Drill,Obama”????????????????????

[smokingfrog]

Occupy the EPA!

[Repeal The 17th]

Here let me just write you a check.
How does Four Billion Dollars sound?

I wonder what that would feel like.
Is there enough space in that little box for all those zeros?

Pay to the order of BP:
$4,000,000,000.00
Exactly: Four Billion Dollars and 00/100 cents.

[brityank]

Pay to the order of BP:
$4,000,000,000.00
Exactly: Four Billion Dollars and 00/100 cents.

Well, as a British company, maybe they are expecting that in British Billions: $4,000,000,000,000.00
Looks better, no?     ;^)