Monthly Archives: January 2013

Transocean pays $1.4 billion fine in Deepwater Horizon accident

The Deepwater Horizon

The Deepwater Horizon

The good news for Transocean in their agreement to pay a $1.4 billion fine in connection with the Deepwater Horizon accident, is that they are finally able to put the matter behind them. Along with the environmental disaster that followed the accident, Transocean and BP have slogged through a public relations nightmare that few could have ever imagined and no one would want to try to navigate.

While it’s never a good thing to be found criminally responsible for a disaster of this magnitude, some of those affected by the accident may take comfort in the fact that much of the fine has been earmarked for cleanup, restoration and economic development.

While the size of the fine may be a small comfort to some, Transocean can take comfort in knowng that while the money will be used to restore the Gulf, the money will also be working to restore its reputation.

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