- BP (BP -1.3%) will reimburse $58.25M to the Louisiana Attorney General’s office for its expenses, fees and litigation costs tied to the 2010 Gulf of Mexico oil spill.
- The Advocate reports that the money was included in BP’s record $20.8B settlement formalized last week, in which Louisiana is set to receive ~$6.8B, the largest piece among the states.
- The $58.25M includes $20M to cover the state's litigation costs and $38.25M toward expenses tied to the Natural Resource Damage Assessment process, which involves state and federal agencies working with BP to determine the cost of repairing damage to the environment.
- Florida was reimbursed $52M for its legal fees, the highest amount among the five Gulf coast states involved in the settlement, but it did not receive any additional money in NRDA costs.