A battle over who is responsible for cleaning up hundreds of oil and gas rigs in the Gulf of Mexico is quietly playing out in a bankruptcy court in southern Texas. The contestants in this game of fossil fuel infrastructure hot potato: Fieldwood Energy, an offshore drilling company attempting to offload more than $7 billion in environmental cleanup responsibilities; a group of oil majors including Chevron, Marathon Petroleum, and BP; and the Department of the Interior.
Fieldwood has declared bankruptcy, and a court is considering the companys plan to split its assets, moving older legacy wells and drilling rigs that are expensive to clean up into two entities while creating a new company appropriately named NewCo to purchase the more p…
Read the full article at: https://grist.org/accountability/oil-gas-bankruptcy-fieldwood-energy-petroshare/
