Volume and extent of the Deepwater Horizon oil spill Volume and extent of the Deepwater Horizon oil spill The "Deepwater Horizon" oil spill was discovered on the afternoon of 22 April 2010 when a large oil slick began to spread at the former rig site. According to the Flow Rate Technical Group, the leak amounted to about of oil, exceeding the 1989 "Exxon Valdez" oil spill as the largest ever to originate in U.S.-controlled waters and the 1979 Ixtoc I oil spill as the largest spill in the Gulf of Mexico. BP has challenged this calculation saying that it is overestimated as it includes over of oil which was
Economic effects of the Deepwater Horizon oil spill the total liability could amount to as much as by the conclusion of the disaster. Financial analysts commented that BP was capable of addressing the potential liabilities that might result, and BP stock rose slightly on the news that the initial compensation fund had been agreed. On 5 July 2010, BP reported that its own expenditures on the oil spill had reached $3.12 billion, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs. As of 1 October 2010, BP has spent $11.2 billion. As of March 2012, BP