BP files Deepwater Horizon settlement agreement today

BP will file today its The $18.7 billion settlement agreement between the U.S. government, five states and BP over the 2010 Gulf of Mexico oil spill.

The filing will be followed by a 60-day public comment period, the next step before final court approval.

According to the terms outlined when the proposed settlement was announced in July, BP will pay $5.5 billion in Clean Water Act penalties, $7.1 billion to fix natural resource damage, and $5 billion for the states to settle economic and other claims.