Louisiana oil and gas company Taylor Energy will be liquidated and required to turn over all its remaining assets to the United States to resolve its liability for an oil spill at its former Gulf of Mexico offshore oil production facility the source of the longest-running oil spill in U.S. history which has been ongoing since 2004.
Taylor Energy will pay upwards of $43 million in penalties and transfer $432 million as a trust to the Department to start cleaning up the 17-year spill.
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