Gulf of Mexico Oil Spill Blog Gulf Coast Claims Facility Pays Out $18.7 M To Omega-1

Gulf Coast Claims Facility2

Gulf Coast Claims Facility

Oct 20 (Reuters) – Omega Protein Corp (OME.N: Quote), a fish oil and meal products maker, said it received $18.7 million as damages caused by BP’s (BP.L: Quote) (BP.N: Quote) Gulf of Mexico oil spill and it expects to get more.

The company, which has a total market cap of $110.9 million, said it could not predict how much more it will get or when.

Gulf Coast Claims FacilityThe company got the money from the Gulf Coast Claims Facility (GCCF), which is administering funds paid by BP in connection with reimbursements for claims related to the Deepwater Horizon disaster.

In July Omega Protein filed a claim with BP for reimbursement of costs or lost profits due to dwindled fish catch. [ID:nSGE66E0LN]

The Company said it did not waive any claims or defenses against BP, the GCCF or any of the Deepwater Horizon defendants by accepting the payments.

Shares of the Houston-based company, which have risen 13 percent over the past three months, closed at $6.13 Wednesday on the New York Stock Exchange.

(Reporting by Vidya Lakshmi in Bangalore; Editing by Don Sebastian)

Source: UPDATE 1-Omega Protein gets $18.7 mln as BP oil spill damages

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