The BP Oil Spill Lawyers at the Bandas Law Firm Alert Public to Story Published in Reuters Stating BP Has Set Aside a Total of $38 Billion for Deepwater Horizon Spill

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The Deepwater Horizon lawyers at the Bandas Law Firm, P.C., whose Web site URL can be found at http://www.bandaslawfirm.com, hereby alerts the public of a story that was published by Reuters that indicates that BP, the Oil company allegedly responsible for the Deepwater Horizon oil spill of 2010, has set aside a total of $38 billion to fund the compensation that will be paid out to people and businesses who file BP oil spill lawsuits in response to the events of 2010.

The BP oil spill attorneys at the Bandas Law Firm, P.C., hereby alert the public that a story was recently published by Reuters entitled, "BP sees results loss after oil spill and dispute in Russia" that states that BP, the company allegedly responsible for the Deepwater Horizon explosion that led to an oil spill in the Gulf of Mexico in 2010, has set aside a total of $38 billion to deal with legal claims and settlements that have been and will be filed in response to the spill by both individuals and businesses. The attorneys at the firm encourage anyone who may have been harmed by this event to seek immediate legal advice.

Specifically, the article published by Reuters appeared on July 31, 2012 and it covered the overall results for BP during the second quarter of 2012. The article stated that the company cut $5 billion off of its value of American assets and that it did not perform to its revenue projections during that quarter. In addition, the article stated that BP took an additional $847 million provision for the Deepwater Horizon issue.

The Deepwater Horizon was an offshore oil rig that was positioned in the Gulf of Mexico for the purpose of extracting oil from underneath the surface of the gulf. On April 20, 2010, an alleged blowout on the rig allegedly caused an explosion that killed 11 workers. Two days later, the Deepwater Horizon sank and the spill of oil continued in the area. The oil spill could not be stopped until July 15, 2012 when it was temporarily stopped. The oil spill was effectively stopped permanently on September 19, 2010.

BP has set up a fund at the behest of the federal government that is designed to provide compensation for those who have been harmed as a result of this BP oil spill. This compensation is designed to provide relief for those who have been struggling with medical costs related to the spill, with the loss of business revenue and with the loss of personal income. There is also ongoing BP oil spill litigation for those who have chosen to file claims.

About the Bandas Law Firm

The Bandas Law Firm is comprised of a group of trial lawyers who have been representing clients injured wrongfully for many years. Their Web site URL can be found at http://www.bandaslawfirm.com and the attorneys at the firm handle cases that include oil field accidents, BP oil spill business claims, defective products cases, dangerous drugs litigation and personal injury matters. The firm’s attorneys represent clients nationally through an extensive network of co-counsel relationships and have been providing legal counsel to residents and businesses in Texas, Louisiana, Mississippi, Alabama and Florida who have been harmed by the BP oil spill.

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Christopher A. Bandas
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