Judge approves Transocean's $1 billion spill settlement

Judge approves Transocean's $1 billion spill settlement

Credit: Getty Images

GULF OF MEXICO - JUNE 25: The Transocean Discoverer Enterprise drillship burns off gas collected at the BP Deepwater Horizon oil spill in the Gulf of Mexico off the coast of Louisiana on June 25, 2010. An approaching tropical disturbance may force collecting operations involving ships and other siphoning equipment to be temporarily halted. This may cause oil to flow unchecked from the well until the weather improves and siphoning operations can be restored. (Photo by Chris Graythen/Getty Images)

Print
Email
|

wwltv.com

Posted on February 19, 2013 at 11:43 AM

Updated Tuesday, Feb 19 at 1:00 PM

NEW ORLEANS (AP) -- A federal judge has approved Transocean Ltd.'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.
 
U.S. District Judge Carl Barbier 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 an additional $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.

Print
Email
|