Judge Approves $20 Billion Settlement in BP Oil Spill

Posted on April 4th, 2016

A federal judge in New Orleans granted final approval Monday to an estimated $20 billion settlement, resolving years of litigation over the 2010 BP oil spill in the Gulf of Mexico.

The order came nearly five years to the day after an oil rig off the coast of Louisiana, the Deepwater Horizon, exploded sending millions of barrels of oil into the Gulf. The spill ultimately spread across 43,000 miles, devastating the coast from Florida to Texas.