- When Kevin Costner formed Ocean Therapy Solutions, he faced difficulty garnering interest.
- Costner promoted his device after the Gulf oil spill and secured a $52 million deal with BP for 32 centrifuges.
- That’s how his invention earned him praise as the “Savior of the Gulf of Mexico.”
- But there’s a darker truth involving a $52 million deal with British Petroleum.
Actor Kevin Costner owns Ocean Therapy Solutions (OTS), a company he bought from the U.S. government for $24 million in 1995. OTS focused on creating centrifugal oil-water separators.
For 15 years, Costner funded a team of scientists to develop technology for cleaning massive oil spills. His research led to a 5-ton centrifuge that he believes can effectively separate oil from water and store the oil in a holding tank.
Costner intended to install it on ships. However, the Hollywood star faced difficulty generating interest in his creation until the Gulf explosion presented an opportunity.
On April 20, 2010, the Deepwater Horizon oil drilling rig, situated in the Macondo Prospect in the Gulf of Mexico, exploded and sank. This incident led to the tragic deaths of 11 workers on the rig and marked the largest oil spill in the history of marine oil drilling operations.
In 2010, Costner promoted this cleaning device after the Gulf oil spill and secured a $52 million deal with British Petroleum for 32 centrifuges. People saw it as a potential solution, calling it the “Costner solution.”
Dark Truth Behind Kevin Costner’s Gulf Savior Device, Which Net $52 Million BP Deal
As reported by ABC News, the company that marketed centrifuges to BP also attracted new investors like Actor Stephen Baldwin. After securing a million-dollar deal with a multinational oil and gas company, it earned Kevin Costner praise as the “Savior of the Gulf of Mexico.” But there’s a darker truth behind this $52 million deal with British Petroleum.
The Dances with Wolves actor explained on Good Morning America (via ABC News), “It separates oil and water at incredibly high speeds under very difficult conditions.” Though not used to cap the well, the devices were meant to gather oil on the water’s surface.
The Guardian reported in 2010 that BP picked Costner’s oil-water machines, even though they failed in tests and didn’t seem promising.
Soon, the company’s investors, Stephen Baldwin, and another partner, Spyridon Contogouris, also filed a lawsuit against the company, claiming securities fraud and misrepresentation. They stated that they sold their shares for $1.9 million (on 11 June 2010) just as OTS finalized a $52 million deal with BP for 32 cleaning machines (on 12 June 2010).
What is the Status of Ocean Therapy Solutions Now?
Stephen Baldwin and Spyridon Contogouris filed a lawsuit against Kevin Costner, Bob Smith, and WestPac, claiming they were misled into selling Ocean Therapy Solutions shares before a $52 million BP deal. Baldwin received $500,000, and Contogouris received $1.4 million to exit Costner’s company (via ABC News).
BP allegedly did not use the 32 devices from Costner, according to the U.S. Coast Guard.
Despite being associated with the centrifugal devices and presenting the case to Congress, Costner denied having an official role in the distributing company. His business partner, attorney John Houghtaling, later told WDSU News:
“The machines are warehoused in Louisiana, sitting there. But the desire is gone to spend the money and have them at the ready.”
Per the same outlet, the owners plan to keep pushing for their technology.
Kevin Costner is set to return in Yellowstone Season 5 Part 2, which is scheduled to premiere in November 2024. In the series, he plays the lead role of John Dutton, the patriarch of Dutton Ranch.
