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Posted: July 15, 2016

BP puts price on its massive oil spill: $61.6 billion

A worker uses a vacuum hose to capture some of the oil washing on to Fourchon Beach from the Deepwater Horizon oil spill in the Gulf of Mexico on June 28, 2010 in Port Fourchon, Louisiana. According to reports on June 28, analysts are saying the economic damage from the oil may not impact the U.S. economy beyond the Gulf region. Millions of gallons of oil have spilled into the Gulf since the April 20 explosion on the drilling platform. (Photo by Joe Raedle/Getty Images)
Joe Raedle
A worker uses a vacuum hose to capture some of the oil washing on to Fourchon Beach from the Deepwater Horizon oil spill in the Gulf of Mexico on June 28, 2010 in Port Fourchon, Louisiana. According to reports on June 28, analysts are saying the economic damage from the oil may not impact the U.S. economy beyond the Gulf region. Millions of gallons of oil have spilled into the Gulf since the April 20 explosion on the drilling platform. (Photo by Joe Raedle/Getty Images)

By Katie Link

BP has put a final number on the cost of the 2010 oil spill: $61.6 billion.

>> Read more trending stories

The April 2010 explosion of the Deepwater Horizon rig killed 11 BP workers and sent crude oil spewing into the ocean. Over the next 87 days, millions of barrels of oil leaked into the Gulf of Mexico.

In the years since the disaster, BP has slowly been analyzing the cost of its mistake. 

Last year, the company settled on a $20 billion agreement with state and federal governments to resolve some claims related to economic damages and water pollution issues.

And last month, BP agreed to pay investors $175 million to squash accusations that the company lied about the size of the spill to protect its stock value.

But by far, the number released Thursday is the biggest. BP's chief financial officer said, "We have a clear plan for managing these costs and it provides our investors with certainty going forward."


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