Transocean, U.S. Urge Judge to Accept Plea Over Gulf Spill
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Transocean Ltd. and federal prosecutors urged a judge to accept the oil driller’s agreement to plead guilty to a criminal charge over its role in the 2010 Gulf of Mexico oil spill and pay more than $1.4 billion, according to court papers.
Transocean’s willingness to plead guilty to violating federal pollution laws and pay a $400 million criminal fine, along with $1 billion in civil penalties, is a fair resolution of the government’s probe of the drilling firm’s actions in connection with the Deepwater Horizon spill, prosecutors and lawyers for the company said in a 21-page joint court filing today.