La. (KLFY) One of the oil and gas companies accused of damaging Louisiana’s coast has reached a settlement with coastal parishes.
The settlement is with Freeport Mcmoran inc. and its subsidiaries.
The deal will result in payments totaling $100 million dollars in cash and environmental credits over several years.
State or local governments would use nearly all the money to restore coastal marshes and wetlands.
The deal establishes a potential settlement template for the dozens of other companies that have been in similar suits.