Omega Protein announced yesterday the final settlement of all of its claims for costs and damages incurred as a result of the oil spill caused by the Deepwater Horizon explosion on April 20, 2010. As a result of the final settlement, on April 18, 2011, the company received an additional payment of $26.2M, net of fees and expenses, from the Gulf Coast Claims Facility, or GCCF.
In total, the company has received payments of $44.8M, net of fees and expenses, from the GCCF, including emergency payments of $7.3M and $11.4M in September and October of 2010, respectively. As a part of the final settlement, the company released and waived all current and future claims against BP (BP) and all other potentially responsible parties with regard to the oil spill.