Anadarko to Pay BP $4 Billion to Settle Deepwater Horizon Claims
Anadarko Petroleum (NYSE:APC) has agreed to pay$4 billion into a $20 billion trust set up to settle claims and damages from the Deepwater Horizon oil spill in the Gulf of Mexico. Concurrent with this payment, Anadarko will no longer pursue a claim that BP plc (NYSE:BP) was negligent with the well. Further, as part of the deal, Anadarko will relinquish all claims to the Macondo Prospect, which is a joint operation between the two companies also in the Gulf of Mexico.
Following is some information about these companies’ stock price performance.
- BP plc (NYSE:BP): The shares recently traded at $40.62, up $0.74, or 1.86%, on the day. The shares have traded in a 52-week range of $33.62 to $49.50 and its market capitalization is $128.24 billion. About the company: BP plc is an oil and petrochemicals company. The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals. BP’s chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene.
- Anadarko Petroleum (NYSE:APC): The shares recently traded at $73.90, up $3.333, or 4.72%, on the day. The shares have traded in a 52-week range of $55.65 to $85.50 and its market capitalization is $36.79 billion. About the company: Anadarko Petroleum Corporation is an independent oil and gas exploration and production company with international operations. In the United States, the Company operates in Texas and surrounding states, the Rocky Mountain region, Alaska, and the Gulf of Mexico. Internationally, Anadarko has exploration and/or production operations on Africa, Asia, South America, and the Caribbean.
- Transocean (NYSE:RIG): The shares recently traded at $51.10, up $0.68, or 1.35%, on the day. The shares have traded in a 52-week rangeo f $43.15 to $85.98 and its market capitalization is $16.35 billion. About the company: Transocean, Ltd. is an offshore drilling contractor. The Company owns or operates mobile offshore drilling units, inland drilling barges, and other assets utilized in the support of offshore drilling activities worldwide. Transocean specializes in technically demanding segments of the offshore drilling business, including deepwater and harsh environment drilling services.
- Halliburton (NYSE:HAL): The shares recently traded at $35.25, down $2.17, or 5.77%, on the day. The shares have traded in a 52-week range of $27.21 to $57.77 and its market capitalization is $32.42 billion. About the company: Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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