NEW ORLEANS – U.S. Federal Judge Carl Barbier released a statement delaying the Deepwater Horizon trial for a week due to ongoing settlement talks between BP and the plaintiffs.

In the motion, Barbier stated the delay was meant to provide more time for settlement talks to progress.

The order rescheduled the beginning of the trial from 8 today to 8 a.m. on March 5.

BP officials also released a statement asserting the delay was agreed upon by both BP and the plaintiffs' steering committee with the intention of allowing more time for a settlement to be reached.

However, the press release also stated "[t]here can be no assurance that these discussions will lead to a settlement agreement."

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