XOM Exxon Mobil Corp

Exxon Mobil Corporation (NYSE:XOM), arguing that the punitive damage award in the Grefer civil lawsuit was unjustified, today asked the Louisiana Supreme Court to consider the case. "ExxonMobil acted responsibly by offering to remediate the property. The punitive damage award is completely unwarranted and should be eliminated," said Exxon Mobil Corporation General Counsel Charles Matthews. "We are also disappointed that the Louisiana Fourth Circuit Court of Appeal upheld a compensatory award that far exceeds the cost of any cleanup needed to comply with Louisiana Department of Environmental Quality standards." In papers filed with the state's highest court, ExxonMobil noted that the restoration costs it was being assessed were both greater than the value of the land itself and tens of millions of dollars more than needed for remediation to protect public health and safety. Less than one percent of the Grefer property exhibited levels of naturally occurring material that was above regulatory limits. In fact, the Louisiana Department of Environmental Quality (LDEQ) had determined that the material deposited on the Grefer property was not dangerous and represented no threat to human health or the environment. ExxonMobil developed and implemented oilfield pipe handling and safety procedures years before the State of Louisiana issued regulations governing the material involved, and voluntarily informed and educated employees and contractors about the issue. The Louisiana Governor's Office and the LDEQ had filed an amicus brief in the lower court supporting ExxonMobil's position regarding the applicability of LDEQ standards.