NORTH PENN AREA 12 SUPERFUND SITE

On April 26, 2010, the Federal District Court (E.D. Pa) entered the Consent Decree settling the case United States v. Schlumberger Technology Corporation pursuant to CERCLA § 107 for recovery of response costs related to the North Penn 12 Site in Worcester Township, Montgomery County, PA. The settlement memorializes a prior oral agreement between Schlumberger and the EPA, whereby Schlumberger made an initial past response cost payment, and thereafter, paid EPA’s future response costs billed annually for fiscal years 2000 through 2006. Under the settlement, Schlumberger agreed to make an additional payment, as well as pay all future response costs not inconsistent with the NCP. This settlement is a 98.3% settlement of the United States’ costs, including reimbursement of past response costs, Rohm and Haas costs and prejudgment interest. In consideration of Schlumberger’s payments, and subject to the standard reservations of rights, the United States will provide Schlumberger a standard covenant-not-to-sue under Section 107 of CERCLA. Schlumberger continues to conduct and finance the response action pursuant to a Unilateral Administrative Order, Docket No. III-98-078-DC. The first bill pursuant to the Consent Decree will be issued in the very near future.