The oil and gas industry is one of the largest in the nation, and the U.S. Department of Labor says it will keep growing in the coming years. It has a big impact on our economy, but an important question remains: is it actually safe?
For many workers and people hurt in oilfield accidents, the answer is no. When companies fail to follow safety rules, oilfield accidents can cause serious injuries or even death. Because these accidents can be so severe, it’s important to understand what comes next. One of the biggest mistakes injured workers make is accepting a fast settlement before they know their rights. If you or someone you love was hurt in an oilfield accident, a Texas oilfield accident lawyer can help.
Drawbacks of Accepting a Quick Settlement for an Oilfield Injury
No one expects to be hurt in a serious oilfield accident, but it’s important to know what you can do if it happens. If you have received a settlement offer for your oilfield injury case, you need to be aware of the following:
What is the Total of Your Economic and Non-Economic Damages?
If you can file a personal injury claim instead of a workers’ comp claim, you might be able to recover more money. When figuring out how much your case is worth, it’s important to look at both financial and non-financial harm.
Economic damages are easy to tally. They include all objective, monetary losses arising from your oilfield injury, like medical bills and the wages you missed out on while you were recovering. Non-economic damages cover your subjective, non-monetary losses, including things like mental anguish, pain and suffering, scarring, and reduced quality of life. In a lot of Texas oilfield injury cases, these non-economic damages are even greater than the financial losses.
Knowing the difference between these types of damages is important. It helps make sure you receive every form of compensation to which you are entitled after a Texas oilfield accident.
Does Your Case Merit Punitive Damages?
Many injured oilfield workers are eligible for compensation that extends beyond mere compensatory damages. If someone caused your oilfield injury deliberately or through excessive carelessness, you may also be entitled to seek punitive damages. These damages add more value to your case and, rather then compensating you for lost monies, are intended to penalize the offender and discourage others from doing the same thing.
Oilfield accidents can change your life in major ways. It’s important to hold the responsible person or company accountable. Understanding what these damages are and how they work helps you make sure you’re exploring every possible avenue of financial compensation.
Is Your Future Taken Into Account?
When you are injured in an oilfield accident, it doesn’t just affect the present, it can have a huge impact on future as well. Your injury may continue to cause pain, limit your movement, or change your overall quality of life. If you can’t work because of it, you should include both the wages you’ve already lost and the wages you’ll lose going forward.
The same idea applies if you’re filing a wrongful death claim for a loved one instead of an injury claim for yourself. If your loved one had a job with room to grow and earn more in the future, make sure you include that lost potential income when figuring out the financial impact.
An experienced Texas oilfield accident lawyer can help you calculate all of these losses and make sure your settlement offer includes future damages as well.
Did You Utilize Your Resources?
Don’t try to handle negotiations on your own. You’ve already been through a very difficult experience, and you’ll need support. You have enough to worry about, so let an experienced lawyer take care of the legal side for you.
Working with an experienced Texas oilfield accident lawyer can take a lot of the pressure off you. They can connect you with medical experts and financial specialists who help figure out the full amount of your losses. Instead of guessing at whether or not a settlement offer is fair, you’ll have solid proof of what it’s really worth.
Parks Law, PLLC
Getting the right help can make all the difference in knowing when to turn down a settlement offer after an oilfield accident. With strong support and solid proof, you can fight for the full amount you deserve.
If you were hurt in a Texas oilfield accident, call Parks Law at (713) 979-3500 or fill out the simple contact form on our website. One of our Texas oilfield accident lawyers will review your case and help you understand your options.