Thursday, October 21, 2010

BP (NYSE:BP) Pays $18.7 Million to Omega Protein (NYSE:OME) for Gulf Damages

BP (NYSE:BP) paid out via its Gulf Coast Claims Facility $18.7 Million to Omega Protein (NYSE:OME), and Omega said the should get paid more as the claims process works its way out.

Omega Protein sells fish meal and fish oil products in the United States which it derives from menhaden, a wild herring species found in the Gulf of Mexico, as well as on the Atlantic coast.

They filed their claim against BP based on a smaller catch of fish in the Gulf and the resultant loss of revenue and earnings.

Omega closed Wednesday at $6.13, gaining $0.24, or 4.07 percent.

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