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 Flash Release


Deepwater Horizon Statement

12 PM CDT

( Sep. 4, 2014 )


We are currently reviewing today’s ruling by the U.S. District Court. We were indemnified by BP for any damages per our settlement agreement, and we were excluded from this phase of the trial, as the court determined we had no culpability. As a non-operating co-lessee, we will participate in the penalty phase as detailed in our Form 10-Q filed with the U.S. SEC in July 2014.

 

Deepwater Horizon Statement
9 AM CDT
( Jun. 5, 2014 )

The 5th Circuit Court decision issued June 4, 2014, concerning the source of the spill for Clean Water Act (CWA) purposes, does not alter the Court’s three (3) prior rulings that Anadarko was not culpable in causing the spill, nor does it alter our position as stated in our public filings with the U.S. Securities and Exchange Commission (SEC) on Form 10-Q on May 5, 2014:

Given the Company’s lack of direct operational involvement in the event, as was confirmed by the Louisiana District Court in August 2011 and reconfirmed by the Court in September 2013 and March 2014 by excluding any evidence of Anadarko’s alleged culpability or fault in the Phase I and II trials and in the January 2015 penalty phase trial, and the subjective criteria of the CWA, the Company believes that its exposure to CWA penalties will not materially impact the Company’s consolidated financial position, results of operations, or cash flows.



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