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HOUSTON-St. Joe Co., a developer based in Florida has sued M-I SWACO, a drilling fluid contractor, claiming that the oil spill caused by the oil services company’s negligence in duty has caused a dip in the value of the developer’s Panhandle property spanning 577,000 acres.

The law suit claims that the company did not adhere to safety regulations while cementing the seafloor well of the Deepwater Horizon, which resulted in the rig explosion and spill. For the full story, go to Houston Business Journal.

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