Company in settlement talks over money for 13-year oil leak
BATON ROUGE - A company that has failed to stop an oil leak that began nearly 13 years ago in the Gulf of Mexico is negotiating a possible settlement that could allow it to recover millions of dollars it set aside for work to end the leak.
A federal judge agreed Wednesday to give Taylor Energy Company more time for settlement talks with Justice Department attorneys.
Taylor Energy sued the federal government last year, accusing regulators of violating an agreement requiring the company to set aside $666 million to pay for leak response work. The company argued the government must return the remaining $432 million.
Taylor Energy claims nothing can be done to completely eliminate chronic sheens at a site off Louisiana's coast. Regulators warn the leak could last a century or more.