Potential Claims and Policy Changes Resulting from the "Deepwater Horizon" Incident

New Development

On April 20, 2010, a fire and explosion occurred onboard the Deepwater Horizon, a mobile offshore drilling unit owned by Transocean Ltd. and, at the time, operated for BP Exploration & Production, Inc. ("BP"). On April 22, 2010, the Deepwater Horizon sank, resulting in an uncontrolled flow of hydrocarbons from the wellhead into the Gulf of Mexico. Following the incident, many questions and concerns have arisen regarding liability for damages arising from the oil spill and claim rights and procedures. If you have incurred losses, including economic loses, as a result of the Deepwater Horizon incident, you may be entitled to compensation under the Oil Pollution Act of 1990 ("OPA 90"). In addition, Congress has scheduled a series of oversight hearings to look into this spill incident and many Members of Congress have already responded by introducing legislation to address perceived problems.