Halliburton has agreed to pay $1.1 billion in a settlement that accounts for the majority of the lawsuits against the company for its role in the 2010 Deepwater Horizon oil spill.
The settlement, which includes legal fees, still has to be approved by the District Court for the Eastern District of Louisiana. The settlement includes punitive claims of property damage and damage to the commercial fishing industry, the company said in a release.
It also includes claims that BP assigned against Halliburton in BP's 2012 class action settlement. According to the Plaintiffs' Steering Committee, which is representing spill victims, some individuals and business owners will receive payments from the settlement.
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