Market Overview

W&T Offshore Announces Deal to Resolve Federal Clean Water Act Investigation

Related WTI
Oil & Gas Stock Roundup: Shell Strikes in GoM, Chevron Starts New Oil Plant
3 Commodities You Should Watch, According to Mike Seery

W&T Offshore, Inc. (NYSE: WTI) today announced that it reached an agreement with the United States Attorney's Office for the Eastern District of Louisiana that resolves environmental violations related to the Company's Ewing Banks 910 oil and gas production platform ("EW-910") in the Gulf of Mexico. 

During 2009, employees of a contractor working for W&T Offshore on the EW-910 platform violated established protocols for collecting produced water samples before submitting the samples to the laboratory for testing.  Additionally, on November 27, 2009, Federal government inspectors observed a light, visible sheen on the water around the EW-910 platform, resulting from ongoing platform cleaning efforts. 

Under the agreement, W&T Offshore will plead guilty to one felony count under the Clean Water Act for altering monthly produced water discharge samples from the EW-910 platform in 2009 and to one misdemeanor count under the Clean Water Act for negligently discharging a small amount of oil from the same platform in November 2009. The Company previously disclosed the ongoing government investigation.

The plea agreement, which is subject to Federal district court approval, requires W&T Offshore to pay a $700,000 fine, make a $300,000 community service payment, be placed on a three-year term of probation, and implement an environmental compliance program subject to a third-party audit.

Posted-In: News Legal

 

Most Popular

Related Articles (WTI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters