Exxon Mobil estimates Mont. spill will cost $42M

By MATTHEW BROWN | August 22, 2011 | 2:15 PM EDT

BILLINGS, Mont. (AP) — Exxon Mobil Pipeline Co. has told federal regulators that its oil pipeline spill into Montana's Yellowstone River will cost about $42.6 million.

That figure was included in documents obtained Monday by The Associated Press as a result of a public information request submitted to federal pipeline regulators. The July 1 pipeline break near Laurel spilled an estimated 42,000 gallons, or 1,000 barrels, of crude oil into the scenic waterway.

Exxon Mobil's cost estimate includes $40 million for emergency response work and $2.5 million for damage to public and private property. The company valued the lost oil at $100,000.

About 1,000 people are involved in mopping up the spill, which fouled dozens of miles of riverbank. Exxon Mobil said last week the cleanup may continue for several more months.