Anadarko, Noble Settle $100M Post-Spill Rig Contract Fight

Law360, New York (May 29, 2012, 10:21 PM EDT) -- Anadarko Petroleum Corp. and Noble Drilling LLC on Tuesday settled a $100 million legal battle over Anadarko’s decision to terminate a lease on a Noble-owned offshore drilling rig after the Deepwater Horizon oil spill triggered a temporary ban on deepwater drilling.

In a joint motion in the U.S. District Court for the Southern District of Texas, Anadarko and Noble said they’d agreed to drop their competing claims in the suit and asked the court for permission to drop the matter.

"All parties hereby stipulate that they...
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