Transocean Bites $1.4 Billion Bullet; Not Enough, Says Bentley

Transocean, the owner and operator of the Deepwater Horizon oil rig that figured heavily in the 2010 BP Gulf of Mexico oil spill, has agreed to pay $1.4 billion to cover claims and criminal penalties for its role in the disaster. The Swiss firm also pled guilty to violation of the Clean Water Act and will be on probation for five years.

Bloomberg reported that by pleading guilty to the federal charge, the company may be barred from future U.S. government contracts.

When the settlement was announced, Gov. Robert Bentley said it wasn’t enough.

“We don’t believe this is adequate compensation for the people of Alabama, ” Bentley told theAssociated Press. “We look forward to holding BP and others accountable at trial.”

A trial is slated in February on the state’s claims against firms involved in the spill.

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Nedra Bloom

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