BP Says Oil Spill Response Costs $1.25B

BP said Monday the costs to date of responding to the oil spill in the Gulf of Mexico are about $1.25 billion.
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NEW YORK (

TheStreet

) --

BP

(BP) - Get Report

said Monday the costs to date of responding to the oil spill in the Gulf of Mexico are about $1.25 billion.

The costs exclude $360 million in funds for a Louisiana barrier islands construction project.

BP said the lower marine riser package containment cap, installed last Thursday, collected on Saturday a total of 10,500 barrels of oil and 22 million standard cubic feet of natural gas was flared. From Thursday through Saturday, the volume of oil collected was 16,600 barrels and 32.7 million standard cubic feet of natural gas was flared.

Millions of gallons of oil

have spilled since the Deepwater Horizon rig exploded 50 miles off the coast of Louisiana on April 20, killing 11 workers.

-- Reported by Joseph Woelfel in New York.

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