Anadarko Issues Statement Related to Favorable Ruling in Deepwater Horizon Trial
Anadarko Petroleum Corporation (NYSE: APC) today issued the following statement in response to today's favorable ruling in the Deepwater Horizon Trial.
"Today's ruling is consistent with previous Court determinations that we were not at fault for the Deepwater Horizon event. We look forward to seeing the Clean Water Act portion of the trial resolved soon."
Al Walker, Anadarko Chairman, President and CEO
Background: The Court held a hearing to consider certain evidentiary and discovery issues as the parties prepare for the Clean Water Act (CWA) penalty phase of the Deepwater Horizon trial. Anadarko filed a Motion in Limine asking the court to disallow any testimony or other evidence regarding Anadarko's fault in causing the event. The court granted Anadarko's motion twice before, resulting in no evidence of Anadarko's fault being admitted at either of the earlier two phases of the trial.
During today's hearing, Judge Barbier told Justice Department lawyers: "I don't think this argument is going to get you anywhere. It's pretty clear to me, once I ruled that Anadarko had no legal duty to intervene in the well and could not be negligent."
Degree of culpability in causing the spill is a significant factor in the court's assessment of fines and penalties under the CWA. Judge Barbier again approved Anadarko's motion for this phase of the trial. Therefore, no evidence of Anadarko's alleged culpability will be allowed during the penalty phase of the trial.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.