• Sign up for the Daily Digest E-mail
  • X
  • LinkedIn
  • See more results

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors

BOE Report

Sign up

See more results

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

$140M in conservation work proposed for Gulf of Mexico; money comes from 2010 BP oil spill

August 13, 20151:47 PM The Associated Press

NEW ORLEANS – Ten watersheds around the rim of the Gulf of Mexico — from Florida to Texas — are being looked at as sites for $140 million in proposed conservation projects under a plan to restore the Gulf from BP’s catastrophic 2010 oil spill.

On Thursday the Gulf Coast Restoration Council, a body set up by Congress to handle money derived from fines from the spill, released a list of the projects it wants to fund.

This money comes from a settlement with Transocean Deepwater Inc., a drilling company BP hired for its ill-fated well off the coast of Louisiana that blew out, causing the nation’s largest offshore spill.

The projects range from plugging oil and gas wells along the coast in Texas to planting sea grasses in Tampa Bay to planning for a Mississippi River diversion.

The costliest projects are in Mississippi and Louisiana, states that were hit hard by BP’s oil spill.

In Mississippi, the council is looking at spending $15.5 million to buy parcels of land along the coast to better conserve land and protect wildlife.

In Louisiana, the council is looking at spending $14 million to design a diversion of Mississippi River water into the Maurepas Swamp, an area of bald cypress and tupelo trees northwest of New Orleans. The idea is to reintroduce freshwater and sediment into the swamp.

For more information about the projects and the Gulf Coast Restoration Council, go to www.RestoretheGulf.gov.

Before money can be spent, the council will gather the public’s opinions on the projects at meetings between Aug. 20 and Sept. 16. The first meeting will take place Aug. 20 in Corpus Christi, Texas, at Texas A&M University. The public can submit comments on the plans until Sept. 28.

Transocean’s settlement over its role in the oil spill forced the company to pay about $800 million, and the restoration council says it expects to get $241 million, or 30 per cent, of that amount.

Much more money is expected to come into the restoration fund from BP. In July, the five Gulf states, the federal government and the British oil giant agreed to settle civil claims arising from the 2010 spill.

Under the settlement, BP has agreed to pay a civil penalty of $5.5 billion under the Clean Water Act, payable over 15 years. Eighty per cent of that amount would go toward restoration, the council said.

U.S. Interior Secretary Sally Jewell, in a statement, said this was a step toward “meaningful and lasting natural resource restoration for Gulf Coast communities.”

Besides the Clean Water Act fines, criminal fines and money for natural resources damage also are going toward Gulf restoration.

In 2011, BP paid $1 billion to jump-start restoration projects and much of that money has been allocated and spent on projects, according to the National Oceanic and Atmospheric Administration.

Meanwhile, criminal fines from the spill are being funneled through the National Fish and Wildlife Foundation, a non-profit created by Congress in 1984. Plea agreements in cases against BP and Transocean are directing $2.5 billion into a fund overseen by the foundation. The NFWF has awarded about $395 million in restoration projects, the group says.

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Oil slips 4% as US, Iran reach peace deal to reopen Strait of Hormuz
  • Australia’s Woodside Energy says it is unaware of any proposal involving Exxon Mobil
  • Fragile Iran deal offers oil relief, but Hormuz risks remain: Bousso
  • Iran confirms immediate and permanent end to war on various fronts starting tonight
  • Pakistan PM says US and Iran reach peace deal after talks

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2026 Stack Technologies Ltd.