Anadarko To Settle BP Deepwater Claims For $4B

Law360, New York (October 17, 2011, 12:10 PM EDT) -- Anadarko Petroleum Corp. will pay BP PLC $4 billion to resolve all claims in the multidistrict litigation stemming from last year’s Deepwater Horizon oil spill, the companies announced Monday.

Anadarko says it will pay BP the full amount in cash and transfer its 25 percent stake in the Macondo well lease to BP in exchange for a full release of claims for liability in the Louisiana-based MDL over the disaster.

The settlement comes as BP and its drilling partners gear up for trial in February to...
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