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March 21, 2014
15:47 EDTAPCAnadarko says ruling consistent with prior determinations of no fault for spill
Anadarko Petroleum stated that the court held a hearing to consider certain evidentiary and discovery issues as the parties prepare for the Clean Water Act penalty phase of the Deepwater Horizon trial. 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, the company said. 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, the company said. "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," stated Anadarko Chairman, President and CEO Al Walker.
News For APC From The Last 14 Days
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July 21, 2014
08:16 EDTAPCFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
12:36 EDTAPCPlug Power said to be on list of companies probed by SEC, Probes Reporter says
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10:03 EDTAPCOn The Fly: Analyst Downgrade Summary
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06:01 EDTAPCAnadarko downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded Anadarko to Market Perform citing valuation and expectations for lower crude prices throughout the year. The firm keeps a $107 price target for shares.
July 15, 2014
11:29 EDTAPCAnadarko rallies after financial transactions, mineral-interest ownership
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