Anadarko's $5B settlement is approved


According to the Wall Street Journal, Woodlands based Anadarko Petroleum Corp.’s (NYSE: APC) $5.15 billion settlement over an environmental dispute has been approved by U.S. District Court Judge Katherine Forrest on Nov. 10.

Terms require Anadarko to pay the settlement within 60 days of final approval.

The U.S. Department of Justice states the settlement is the largest environmental enforcement recovery ever received.  The settlement resolves the battle waged against Anadarko’s Kerr-McGee subsidiary over billions of dollars related to environmental cleanup and health concerns that occurred before Anadarko acquired the company in 2006.

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