Gulf of Mexico Oil Spill Blog BP Spill Bill

BP Spill Bill

US Sends 7th Bill To BP, Seeking $62.6 Million For Oil Spill Response

DOW JONES NEWSWIRES

bp spillThe federal government said it sent a bill for $62.6 million to BP PLC (BP, BP.LN) and other parties for response and recovery operations related to the massive oil spill in the Gulf of Mexico.

This is the seventh bill the government has sent, and the previous six– totaling $518.4 million–were paid in full by BP, which owned 65% of the lease where a deep-water oil rig exploded and sunk in April, killing 11 workers. The incident touched off the worst offshore oil spill in U.S. history.

In addition to BP, the bills were addressed to Transocean Ltd. (RIG, RIGN.VX), which owned the rig, and to Anadarko Petroleum Corp. (APC) and MOEX Offshore 2007 LLC, both minority investors in the well. The three companies have blamed BP for the spill.

The latest bill covers expenses related to the response of more than two dozen U.S. entities and agencies from four states.

BP in July agreed to create a $20 billion escrow fund to pay individuals and businesses suffering losses from the spill.

Its American depositary shares rose 6 cents to $41.08 in after-hours trading. The ADS were down 29% this year as of the close.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com

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