BP reaches settlement with Weatherford, will use money to
POSTED: Tuesday, June 21, 2011 - 3:35pm
UPDATED: Tuesday, June 21, 2011 - 4:16pm
NBC NEWS — BP has reached an out of court settlement with one of the companies it contracted for work on the Deepwater Horizon rig.
The deal means Weatherford U.S. will pay BP $75 million for work done on the rig before it exploded on April 20 last year.
BP says they'll use the money for the $20 billion fund to compensate people and businesses still suffering from the Crisis on the Coast.