在爆炸發生當時，BP 正利用深海地平線鑽探一個位於水下5000呎深的探勘井，該井位於路易斯安那州海岸外約41哩處的馬康多石油前景（Macondo Prospect）。
在漏油事件後的兩年間，焦油球不斷的被沖上墨西哥灣的海岸，研究顯示，焦油內含有致命的細菌 Vibrio vulnificus。
BP在4月18日宣布，已經與原告督導委員會（Plaintiffs' Steering Committee）達成「明確且全面的書面協議」，來解決深水地平線事故與漏油事件中，合乎條件的民間經濟與醫療賠償申訴中的「絕大部分」。
進行和解案之前，BP已經花費了220億美金滿足其對墨西哥灣的承諾。其中對個人、企業與政府機構就支付了81億美金，另外，BP集團行政總裁 Bob Dudley 說，BP也花了約140億美金來處理相應的營運問題。
2012年4月中旬，委員會成員犧牲自己的時間，發出了一份後續報告，描述其建議的執行狀況。根據漏油事件委員會行動報告（Oil Spill Commission Action），委員會給歐巴馬政府的總評是「B」，石油業者是「C+」，而國會則得到「D」。
委員會的關鍵提議是提撥依潔淨水源法案（Clean Water Act）罰款的8成，作為恢復墨西哥灣生態系統的長期經費。委員會建議，可以由國會行動或者與肇事者進行庭外和解來達成上述建議。
Today marks the second anniversary of the blowout of BP's Deepwater Horizon oil rig in the Gulf of Mexico that claimed the lives of 11 workers and unleashed the largest accidental marine oil spill in the history of the petroleum industry.
At the time of the explosion, BP was using the Deepwater Horizon to drill an exploratory well at a water depth of approximately 5,000 feet in the Macondo Prospect, located about 41 miles off the Louisiana coast.
At 9:45 pm local time, on April 20, 2010, methane gas from the well 18,000 feet below the sea floor expanded into the drilling riser and caught fire. Flames engulfed the drilling rig, which burned for 36 hours before sinking.
The well ruptured, releasing about 4.9 million barrels of oil into the Gulf over a three month period before it was capped on July 19. The well was finally sealed on September 19, 2010.
In October 2011, a report by the National Oceanic and Atmospheric Administration found that dolphins and whales were dying at twice the normal rate. In March, a NOAA study found that bottlenose dolphins in Barataria Bay, Louisiana are sick after coming in contact with oily waters from the BP spill.
Earlier this month, scientists reported finding large numbers of mutated crab, shrimp and fish they believe to be the result of chemicals released during the oil spill and cleanup.
Tar balls continue to wash up along the Gulf coast two years after the spill began. Studies show the tar contains the deadly bacteria Vibrio vulnificus.
Fishing and tourism businesses across the Gulf were harmed and first responders as well as residents experienced health effects of petroleum exposure such as dizziness, vomiting, nausea, headaches, and chest pains.
On June 16, 2010, after meeting with President Barack Obama, BP executives agreed to create a $20 billion spill response fund.
To date, roughly 100,000 claims have been filed by individuals and businesses affected by the oil spill.
On Wednesday, BP announced that it has reached "definitive and fully documented agreements" with the Plaintiffs' Steering Committee to resolve the "substantial majority" of eligible private economic loss and medical claims stemming from the Deepwater Horizon accident and oil spill.
Prior to the settlement, BP had spent more than $22 billion toward meeting its commitments in the Gulf. BP has paid out more than $8.1 billion to individuals, businesses and government entities. In addition, Dudley says, BP has spent approximately $14 billion on its operational response.
In addition, President Barack Obama established the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling to identify the root causes of the incident and make recommendations to restore the Gulf and to prevent similar incidents in the future.
In its report, the Commission found that BP had not sacrificed safety in favor of making money, but that some decisions had increased risks on the rig.
This week, the Commission members, volunteering their time, issued a followup report on progress made in fulfilling its recommendations.
Under the name Oil Spill Commission Action, the Commission members gave the Obama administration a grade of "B," the oil industry a grade of "C+," and Congress a grade of "D."
"Overall, we conclude that, although much more needs to be done, the administration and industry are undertaking important enhancements to make offshore drilling safer and to improve the nation's ability to respond to oil spills that may occur," said Oil Spill Commission Action. "Unfortunately, so far, Congress has provided neither leadership nor support for these efforts."
BP has settled with private parties on their claims but, as Oil Spill Commission Action released its assessment on April 17, settlement negotiations with government were still unresolved.
A key Commission recommendation was to dedicate 80 percent of all assessed Clean Water Act penalties to the long-term restoration of the Gulf of Mexico ecosystem. The Commission suggested that such a dedication could result either from Congressional action or a court settlement of claims against the responsible parties.