Transocean Settles $21M Hurricane Rita Rig Crash Suit

Law360, New York (June 10, 2010, 6:06 PM EDT) -- Transocean Ltd. has settled a four-year-old, $21.4 million suit that accused the company of negligently handling an offshore oil rig during Hurricane Rita, a lapse that allegedly led to the rupture of two underwater pipes owned by a gas company.

A Transocean unit reached a settlement with the pipe owner, a subsidiary of Williams Gas Pipeline Co. LLC, following telephone negotiations Tuesday, according to a court filing.

Judge Eldon E. Fallon of the U.S. District Court for the Eastern District of Louisiana entered an order dismissing...
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