Anadarko Petroleum

Judge Orders Oil Company to Pay $22.9 Million for Understating Royalties

An oil company was ordered to pay $22.9 million for understating the amount of royalty it owed the federal governments for oil pumped from offshore oil leases. A federal judge ruled that Kerr-McGee Corp. understated the value of the oil and natural gas produced from the leases, allowing it to pay fewer royalties than the government was entitled to, The Wall Street Journal said.

Legal Briefing: BP's Partners Will Negotiate on Oil Spill Bills

Mitsui Offshore Exploration and Anadarko Petroleum, BP's partners in the Deepwater Horizon well, now refuse to share in the liability for the Gulf oil spill, saying BP's gross negligence frees them from liability. But before the issue goes to arbitration, they're going to try to talk it out.

Legal Briefing: BP-Anadarko Fight Stays Out of Court

BP and Anadarko will battle over whether the former was grossly negligent in the Deepwater Horizon project before an arbitration panel, not a court. This means the fight won't help oil-spill plaintiffs. Plus, Viacom vs. YouTube and dangerously industry-friendly regulators.

BP Used Cheaper, Riskier Well Design More Often

BP used a cheaper and riskier well design in more than one-third of its Gulf of Mexico deepwater wells -- significantly more often than most other big drillers in the area, according to The Wall Street Journal. The same design was used in BP's Deepwater Horizon rig.

Anadarko Puts Full Blame for Gulf Oil Spill on BP

Anadarko, a 25% owner of BP's disastrous Gulf drilling operation, blames the British oil giant for the rig explosion and oil spill. It says BP's actions represent "gross negligence or willful misconduct."

What the Future Holds for Gulf Oil Spill Companies

The Department of the Interior's report on the Gulf oil spill is due out this week, and those in the industry await it with concern: A possible prolonged ban on offshore drilling and the near certainty of expensive new safety standards could take a serious toll on their bottom lines.