Transocean reaches $212 million settlement over oil spill claims

[TexasTowelie]

Source: New Orleans Times-Picayune

Transocean Ltd. has agreed to a nearly $212 million settlement with Gulf Coast individuals and business owners over the 2010 Gulf of Mexico oil spill, plaintiff's lawyers said Wednesday (May 20).

Transocean was the owner of the Deepwater Horizon drilling rig, which sank after the April 20, 2010 blowout at BP's Macondo well. The disaster killed 11 workers and set off the worst offshore oil spill in U.S. history.

In a statement, Transocean said the settlement and a separate agreement reached with BP to settle ongoing litigation "resolve substantially all outstanding" oil spill claims against the company.

The Transocean settlement -- $211.7 million total -- follows a similar agreement reached with Halliburton, the cement contractor on the Macondo well. Halliburton agreed to pay $1.1 billion to settle claims last September.

Read more: http://www.nola.com/business/index.ssf/2015/05/transocean_oil_spill_settlemen.html

[Nihil]

1. Practically petty cash for a tax-evading bunch of crooks like that.

Especially as their lawyers clawed over half of that proclaimed amount out of BP anyway.

Pathetic really ... even the company behind the primary cause - and who happily committed
contempt of court by destroying incriminating documents - paid approx 10 times the amount
that it cost Transocean:
> The Transocean settlement -- $211.7 million total -- follows a similar agreement reached with
> Halliburton, the cement contractor on the Macondo well. Halliburton agreed to pay $1.1 billion
> to settle claims last September.

BP has paid $14 billion (by the end of 2014), Transocean will pay 94 million (sometime) and
Halliburton will pay $1.1 billion (sometime).

So much for "court maths":
> The ruling allocated 67 percent of the blame to BP, 30 percent to Transocean and 3 percent to Halliburton.