Transocean Shakes Off Gross Negligence Charge

Key findings in the Courts decision with respect to Transocean are as follows:
Although the decision is subject to appeal, as written it effectively eliminates Transoceans financial risk arising from the below-surface discharge of oil at Macondo.
Transoceans remaining financial risk is for above-surface discharge of pollutants, if any, occurring during the initial two days of the spill.
Transocean believes any such pollution either caused no significant harm or is covered by BPs indemnity.
This is a favorable and welcome ruling for Transocean, its employees, and all offshore drilling contractors, as the Court has again ratified the industry-standard allocation of liability between drilling contractors and the owners and operators of oil wells, said Steven Newman, President and Chief Executive Officer.
As we remember the 11 men who died in this tragic accident, we appreciate the Courts observation that the Deepwater Horizon crew was attentive and serious and acted bravely in the face of chaotic circumstances, committing multiple heroic acts that saved many lives on April 20, 2010.