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.