The long nightmare of the Deepwater Horizon disaster is nearly over. The company signed a $20.8 billion deal in July 2015 that settled all government claims, although it will continue to field private claims for some time yet (the total cost so far is $43.8 billion). The asset sales and borrowing that it has needed to pay for Deepwater Horizon have left it strategically vulnerable: it has little balance sheet space to replace reserves through acquisitions, and crude prices aren’t high enough to warrant new drilling. It may yet have to slim down even further (or cut its dividend), as the $60 oil price it planned for in 2016-7 has yet to materialize.
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Government has to deal with the problem, said the judge. With the Trump EPA, that's unlikely.
The suit called for an abatement fund that would go toward cities affected by flooding.
BP also revived share buybacks this week in a sign that austerity had paid off.