Oil Spill MDL Judge Approves Transocean's $1B Settlement Agreement

Oil Spill MDL Judge Approves Transocean's $1B Settlement Agreement

NEW ORLEANS - The federal judge in Louisiana who is overseeing litigation arising from the April 2010 explosion of the Deepwater Horizon oil rig and ensuing oil spill in the Gulf of Mexico on Feb. 19 approved Transocean Deepwater Inc. and its affiliates' agreement to pay $1 billion in civil penalties to resolve claims brought by the federal government under the Clean Water Act (CWA) (In re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico on April 20, 2012, MDL 2179, E.D. La.).

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