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The Deepwater Horizon explosion and oil spill resulted in an onslaught of litigation. call if firef commenced almost immediately after the explosion and oil spill. By May 27, 2010, Transocean, which owned the Deepwater Horizon, said in testimony before the U.S. House Judiciary Committee that it was defendant in 120 lawsuits, of which more than 80 were class actions seeking payment for ...
The Deepwater Horizon Oil Spill Trust is the $20 billion trust fund established by BP to settle claims arising from the Deepwater Horizon oil spill. The fund was established to be used for natural resource damages, state and local response costs and individual compensation. [ 1 ]
In May 2010 the U.S. Department of the Interior issued a moratorium on all deepwater drilling in the wake of the Deepwater Horizon oil spill, pending a six-month review by a White House appointed panel. On May 27, the United States Department of the Interior issued a press release which indicated:
The Navy and Justice Department announced a new settlement offer Wednesday to some of the tens of thousands of people who claim they ... The payouts range from $150,000 to $450,000 — with an ...
Halliburton Resolves Department of Justice Deepwater Horizon Investigation HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYS: HAL) today announced that it has reached an agreement with the U.S ...
Deepwater Horizon was an ultra-deepwater, dynamically positioned, semi-submersible offshore drilling rig [7] owned by Transocean and operated by the BP company. On 20 April 2010, while drilling in the Gulf of Mexico at the Macondo Prospect, a blowout caused an explosion on the rig that killed 11 crewmen and ignited a fireball visible from 40 miles (64 km) away. [8]
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As of 2010, before payouts related to the Deepwater Horizon drilling rig explosion, the fund stood at $1.6 billion. [14] The hydroelectric industry is not generally held financially liable for catastrophic incidents such as dam failure or resultant flooding.