Transocean chief executive hoping for comprehensive oil spill settlement
by Associated Press
Published: March 26,2012
Tags: accident, courts, disaster, disaster recovery, environment, explosion, gas, habitat, offshore drilling, Oil, oil rig, oil spill, petroleum, restaurants, seafood, settlement, tourism, tousits, visitors, wildlife
NEW ORLEANS — The head of Transocean Ltd. says the company is hoping for a comprehensive legal settlement of claims resulting from the BP oil spill.
Transocean chief executive Steve Newman told a conference of investment analysts in New Orleans today such a settlement would have “to recognize the relationship” between a drilling company and a drilling site operator.
The Swiss company leased the Deepwater Horizon rig to BP to drill a deep-sea well off the Louisiana coast. An April 2010 blowout killed 11 workers and caused the nation’s worst offshore oil spill.
Last week, a federal judge dismissed an investors’ suit alleging top Transocean executives misled shareholders about safety problems in the months leading up to disaster.
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