NEW ORLEANS—More than five years after the worst offshore oil spill in U.S. history fouled beaches, coated seabirds in thick goo and threatened delicate marshes, BP has agreed to pay a record settlement to affected states in hopes of bringing an end to a legal drama that has cost the company billions.
BP and five coastal states announced a deal Thursday to provide $18.7 billion in new money to the states. The company said the settlement would bring its full obligations to an estimated $53.8 billion.
The Deepwater Horizon disaster killed 11 rig workers and spewed millions of gallons of crude.
Federal and state government officials touted the record-breaking agreement as a historic milestone in the Gulf Coast’s recovery although some environmental groups and local officials indicated BP should have paid even more.
