Court OKs Transocean's settlement with U.S. over Gulf spill

02/14/2013 | Wall Street Journal, The

Transocean's $400 million settlement with the Department of Justice over criminal charges arising from the 2010 Gulf of Mexico oil spill was cleared by U.S. District Judge Jane Triche Milazzo, a company spokesman said. Milazzo accepted the company's plea for one criminal misdemeanor charge of violating the Clean Water Act. Transocean will also pay $1 billion in civil penalties for Clean Water Act violations, but another judge needs to clear that settlement.

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