Houston-based Halliburton Energy Services – a subcontractor on BP’s Deepwater Horizon oil rig – has agreed to pay more than $1 billion to settle claims from coastal businesses that were damaged from the 2010 rig explosion and oil spill.

The settlement, announced Sept. 1, will be available to individual and business owners who are already part of the BP economic and property damage settlement as well as those who are not.

Another group that may be eligible for the Halliburton settlement are those individuals, businesses or government entities seeking punitive damages.

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