Transocean will pay $1 billion for oil spill
Source: Associated Press
Transocean will pay 1 billion for oil spill
11:56a.m. EST February 19, 2013
NEW ORLEANS (AP) — A judge has approved Transocean's agreement with the Justice Department to pay $1 billion in civil penalties for its role in the massive 2010 oil spill in the Gulf of Mexico.
A U.S. District judge said in his ruling Tuesday that he found "no just reason for delay" in approving the civil settlement.
Last week, a different judge approved Transocean's criminal settlement with the federal government. The company pleaded guilty to a misdemeanor charge and will pay $400 million in criminal penalties.
Transocean owned the Deepwater Horizon drilling rig, which exploded and sank over BP's Macondo well in April 2010. The accident killed 11 rig workers and spawned the nation's worst offshore oil spill.
http://www.usatoday.com/story/money/business/2013/02/19/transoceans-spill-settlement/1930403/