January 03, 2013 at 14:02 PM EST
Transocean Surges On $1.4 Bil Gulf Spill Settlement
Transocean (RIG) agreed to pay a $1.4 billion in fines to settle litigation over the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, the Justice Department said Thursday. The company owned the drilling rig that exploded, caught fire and sank, killing 11 workers on April 20, 2010. The broken well released an estimated 5 million barrels of oil before it was capped five months later. Transocean shares surge 7% to 49.51 intraday Thursday as
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