BP Could Tumble $6 Lower By 2013

Thu, 05/10/2012 - 16:52 EDT - Seeking Alpha

By Stock Croc:Nearing the end of a lengthy legal battle and with a chance at another shot producing in the Arctic, BP may be starting to see long-awaited signs of recovery.Finally, BP's settlement of $7.8 billion to resolve the more than 100,000 claims by individuals and businesses stemming from the 2010 Gulf of Mexico oil spill has been granted preliminary court approval. The accord in question covers both economic as well as medical claims against the company.However, despite this good news, BP is not out of the woods yet. The settlement in question does not cover claims by the U.S. Government or Gulf Coast states, nor does it eradicate the disputes the company is still involved in with its drilling partners.Once the fairness trial concludes later this year, a comprehensive trial to deal with the remaining issues will begin. BP asked that this trial be postponed until after theComplete Story »

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BP's $7.8 billion Gulf spill pact wins initial court OK
(Reuters) - BP Plc won preliminary court approval of an estimated $7.8 billion settlement to resolve more than 100,000 claims by individuals and businesses stemming from the 2010 Gulf of Mexico oil spill. The accord comprises two agreements, including one that covers economic and property claims and one covering medical claims. In separate rulings on Wednesday, U.S. District Judge Carl Barbier in New Orleans said the agreements reached on March 2 were "fair, reasonable, and adequate," had "no obvious deficiencies" and were reached without collusion. ...
BP's $7.8 billion Gulf spill pact wins initial court OK
BP Plc won preliminary court approval of an estimated $7.8 billion settlement to resolve more than 100,000 claims by individuals and businesses stemming from the 2010 Gulf of Mexico oil spill. The accord ...
BP faces day in court over Gulf of Mexico oil spill
Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies involved are facing their day in court. The trial over the worst U.S. offshore oil spill is set to start Monday morning in New Orleans before a federal judge and without a jury. Few expect the case, seen lasting several months, will be decided by the judge.
BP's $7.8 billion Gulf spill pact wins initial court OK
(Reuters) - BP Plc won preliminary court approval of an estimated $7.8 billion settlement to resolve more than 100,000 claims by individuals and businesses stemming from the 2010 Gulf of Mexico oil spill.
BP proposes Gulf spill accord terms, trial delay
Oil Rig Explosion Victim's Dad Says $4 Billion Criminal Fine Is 'Petty Cash To BP'
NEW ORLEANS (AP) — Now that a $4 billion plea deal has resolved BP's criminal liability for the massive Gulf of Mexico oil spill nearly three years ago, the company will turn its focus to a trial that could potentially cost it billions of dollars more in civil penalties.
Plaintiffs, BP urge judge to approve $7.8 billion spill settlement
NEW ORLEANS (Reuters) - BP Plc and lawyers representing over 100,000 individuals and businesses
Ruling against BP clears way for appeal of spill payouts
NEW ORLEANS — A U.S. judge’s ruling Friday against BP Plc means the company can proceed with its appeal of the way a court-appointed administrator apportions payments for claims related to the 2010 Gulf of Mexico oil spill, some of which BP called “absurd.”
Rig owner reaches $1.4B settlement with Justice Department over massive Gulf Coast oil spill
NEW ORLEANS – The U.S. Justice Department reached a US$1.4-billion settlement Thursday with Transocean Ltd., the owner of the drilling rig that sank after an explosion killed 11 workers and spawned the massive 2010 oil spill in the Gulf of Mexico.
Alaska and the Gulf of Mexico and Oil
Several articles caught my attention: first, the impact on the Gulf from the largest oil spill in US history, in particular on coral [0], and second, the attempts to get approval to drill off Alaska's coast [1]. From the second, Shell Presses for Drilling in Arctic : Shell is pressing the Interior Department to grant

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BP Could Tumble $6 Lower By 2013

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