Texas Justices Skip Anadarko’s Bid for Oil Spill Deal Tax Refund

Anadarko Petroleum Corp. failed to convince the Texas Supreme Court to consider its petition seeking an $8.5 million franchise tax refund in connection with the Deepwater Horizon oil spill, an orders list released by the justices Friday indicates.

The company sought to deduct the $4 billion settlement it paid to BP PLC—which BP used to pay people injured by the 2010 incident—as costs of goods sold. A state appeals court held in 2023 that the payments covered tort liabilities, not general expenses for the cleanup, blocking the refund.

BP and Anadarko had ownership interests in the well that released millions ...