$211M settlement reached with Transocean in 2010 oil spill

Before you go, we thought you'd like these...
Before you go close icon

4 PHOTOS
BP oil spill
See Gallery
$211M settlement reached with Transocean in 2010 oil spill
Plumes of smoke are seen as oil is burned off the surface of the water near the source of the Deepwater Horizon spill in the Gulf of Mexico off the coast of Louisiana June 19, 2010. REUTERS/Lee Celano (UNITED STATES - Tags: DISASTER ENVIRONMENT ENERGY BUSINESS)
Oil from the Deepwater Horizon oil spill is visible near the beach on Barataria Bay, Louisiana June 9, 2010. British energy giant BP's stock price plunged to a 14-year low in U.S. trading on Wednesday amid concerns over its ability to meet mounting costs of the giant Gulf of Mexico oil spill. President Barack Obama's administration, getting tough as polls show public disapproval over its handling of the worst oil spill in U.S. history, threatened new penalties on the company. REUTERS/Lee Celano (UNITED STATES - Tags: DISASTER ENVIRONMENT ENERGY BUSINESS)
Fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon, off Louisiana, in this handout photograph taken on April 21, 2010 and obtained on April 22. Eleven workers were missing and 17 injured in an explosion at the Transocean oil drilling rig, and crews were fighting the fire 16 hours later, the U.S. Coast Guard said on Wednesday. An estimated 126 people were aboard the Deepwater Horizon at the time of the explosion. Picture taken April 21, 2010. REUTERS/U.S. Coast Guard/Handout (UNITED STATES - Tags: DISASTER ENERGY IMAGES OF THE DAY) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

NEW ORLEANS (AP) — Lawyers representing businesses and individuals claiming damages from the 2010 Gulf of Mexico oil spill have announced a $211 million settlement with Transocean Ltd., owner of the ill-fated Deepwater Horizon drilling rig.

BP leased the rig from Transocean. The April 2010 explosion of the rig killed 11 workers and sent oil spewing into the Gulf of Mexico for 87 days.

Court rulings have put the brunt of responsibility for the disaster on BP. But Transocean and Houston-based cement contractor Halliburton also were found to have some responsibility.

Halliburton reached a $1 billion settlement with plaintiffs last year.











Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners