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NEW ORLEANS — (Mealey’s) Halliburton Energy Services Inc. (HESI), the company that was responsible for cement work for the Macondo well in the Gulf of Mexico, on Sept. 2 filed an agreement in Louisiana federal court under which it will pay approximately $1.1 billion to resolve claims for individuals who are part of a business and economic loss (BEL) class that suffered damages as a result of the explosion of the Deepwater Horizon oil rig in April 2010 and ensuing oil spill in the Gulf of Mexico (In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, April 20, 2010, MDL No. 2179, E.D. La.).
(Settlement available. Document #08-140912-022X.)
The agreement was filed in the U.S. District Court for the Eastern District of Louisiana and will resolve punitive damages for the members of the class. Judge Carl Barbier, who is presiding over the multidistrict litigation involving lawsuits stemming from the spill, will approve all requests for payment from a settlement trust that will be established by HESI.
BP Exploration and Production Inc., one of the main lessees of the Macondo well, agreed to pay $7.8 billion to resolve BEL claims in 2012. The value of the settlement was later determined to be approximately $9.2 billion. BP has raised issues with the manner in which claims have been paid out of the settlement fund, and the Fifth Circuit U.S. Court of Appeals has issued two rulings as to the amount of evidence that must be submitted by claimants in order to receive payment. BP has asked the U.S. Supreme Court to review the Fifth Circuit’s ruling.
HESI’s settlement will not resolve claims for compensatory damages from the BEL class and will not settle any claims from states along the Gulf Coast that were affected by oil spill. HESI’s agreement also does not resolve any environmental claims brought by the federal government.
Bruce W. Bowman, Donald E. Godwin, Floyd R. Hartley Jr., Gavin E. Hill, Jenny L. Martinez, Robert Alan York and Jerry C. von Sternberg of Goodwin Lewis in Dallas are counsel for HESI.
Stephen J. Herman of Herman Herman Katz & Cotlar in New Orleans; James Pakerson Roy of Domengeaux Wright Roy & Edwards in Lafayette, La.; Brian H. Barr of Levin Papantonio Thomas Mitchell Echsner & Proctor in Pensacola, Fla.; Robin L. Greenwald of Weitz & Luxenberg in New York; Jeffrey A. Breit of Breit Drescher Imprevento & Walker in Norfolk, Va.; Rhon E. Jones of Beasley Allen Crow Methvin Portis & Miles in Montgomery, Ala.; Elizabeth J. Cabraser of Lieff Cabraser Heimann & Bernstein in San Francisco; Matthew E. Lundy of Lundy Lundy Soileau & South in Lake Charles, La.; Philip F. Cossich Jr. of Cossich Sumich Parsiola & Taylor in Belle Chasse, La.; Michael C. Palmintier of deGravellew Palmintier Holthaus & Fruge in Baton Rouge, La.; Robert T. Cunningham of Cunningham Bounds in Mobile, Ala.; Paul M. Sterbcow of Lewis Kullman Sterbcow & Abramson in New Orleans; Alphonso Michael Espy of Morgan & Morgan in Jackson, Miss.; Scott Summy of Baron & Budd in Dallas; Calvin C. Fayard Jr. of Fayard & Honeycutt in Denham Springs, La.; Mikal C. Watts of Watts Guerra Craft in San Antonio; and Ervin A. Gonzalez of Colson Hicks Eidson in Coral Gables, Fla., are counsel for the plaintiffs.
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