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Transocean Oil-Drilling Rig Sinks in Gulf of Mexico

A Transocean Ltd. oil-drilling rig in the Gulf of Mexico sank after burning for more than a day, creating the risk of a major oil spill as attempts continued to find 11 missing workers.

The sinking of the Deepwater Horizon rig left a sheen of oil on the surface 1 mile wide and 5 miles long, U.S. Coast Guard Rear Admiral Mary Landry said at a press conference today in New Orleans. The Guard said 115 of 126 workers aboard the nine-year-old vessel were rescued and the search for the rest will extend about another 12 hours.