MOEX Offshore First Company To Settle With La. Over Oil Spill

MOEX Offshore is the first company involved in the Deepwater Horizon disaster to settle with Louisiana.

State Coastal Affairs director Garrett Graves says half of the $13.5-million settlement will go to coastal repairs and half will go to land acquisition to help protect the coast.

MOEX Offshore is a minority partner in BP's well blowout that resulted in the worst environmental disaster in U-S history.

Graves says four companies including BP and Transocean have been designated as responsible parties. He says the state is still trying to work out settlements with those companies that will eventually bring billions of dollars to the state.