Thursday, June 3, 2010

BP (NYSE:BP) Will Pay for Sand Berms

BP (NYSE:BP) said in a press release today that they'll pay for the sand berms wanted by Louisiana to try to protect the coastal wetlands of the state.

There are a total of six sand berms the state wants to have built.

BP said they'll build they'll pay for the berms in several stages, according to the meeting of certain construction milestones, which weren't identified by BP.

Costs for the berms are estimated to be $360 million, according to BP, although the state of Louisiana hasn't given an estimate at this time.

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