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Transocean Ltd. (NYSE: RIG), the owner and operator of the Deepwater Horizon rig that exploded and burned in 2010, taking 11 workers' lives and dumping 5 million barrels of crude into the Gulf of ...
The Deepwater Horizon explosion and oil spill resulted in an onslaught of litigation. call if firef commenced almost immediately after the explosion and oil spill. By May 27, 2010, Transocean, which owned the Deepwater Horizon, said in testimony before the U.S. House Judiciary Committee that it was defendant in 120 lawsuits, of which more than 80 were class actions seeking payment for ...
Transocean Ltd. is an American drilling company. [2] It is the world's largest offshore drilling contractor based on revenue and is based in Steinhausen, Switzerland . [ 3 ] [ 4 ] The company has offices in 20 countries, including Canada, the United States, Norway, United Kingdom, India, Brazil, Singapore, Indonesia, and Malaysia.
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Between 2005 and 2007, Transocean was the owner of 30% of oil rigs active in the Gulf, and 33% of the incidents that triggered a Minerals Management Service (MMS) investigation took place on Transocean rigs. However, in the 3 years from 2008 to February 15, 2010, Transocean was the owner of 42% of rigs active in the Gulf but was responsible for ...
The Third Avenue Value Fund (Trades, Portfolio), part of the late Martin Whitman's Third Avenue Management (Trades, Portfolio), disclosed it established one new position and exited four others ...
President Obama speaking in the Oval Office about the spill. On 30 April 2010, President Barack Obama ordered the federal government to delay issuing new offshore drilling leases until a thorough review determined whether more safety systems were needed [1] and authorized teams to investigate 29 oil rigs in the Gulf in an effort to determine the cause of the disaster. [2]
March 2008 – The mineral rights to drill for oil at the Macondo well, located in Mississippi Canyon Block 252 in the United States sector of the Gulf of Mexico about 41 miles (66 km) off the Louisiana coast, were purchased by BP at the Minerals Management Service's (MMS) Lease Sale No. 206, held in New Orleans.