BP (NYSE:BP), Anadarko (NYSE:APC) May Arbitrate

The battle between BP (NYSE:BP) and Anadarko (NYSE:APC) may go down to being arbitrated, as the two battle over who may have to pay out billions over the oil spill in the Gulf of Mexico.

Anadarko, who owns a 25 percent stake in the well, would get hit the most of the two partners besides BP in the well, as Japanese oil giant Mitsui holds only a 10 percent stake, although that could end up costing billions if the worst case scenario is even close to playing out.

For now though, Anadarko is in the sights of BP, and they're pushing it as far as they can to get a decision made.

It may even be illegal for the two companies to litigate the dispute, as anything being fought over which is over $500,000 has been included in a provision of the partnership agreement, according to a regulatory filing by Anadarko.

This isn't to say it can't be litigated, but it does complicate the picture, and if the two entities trust those doing the arbitrating, it is a quicker and less expensive resolution to the problem.