$211M settlement reached with Transocean in 2010 oil spill

NEW ORLEANS, LA -- Lawyers representing businesses and individuals claiming damages from the 2010 Gulf of Mexico oil spill have announced a $211 million settlement with Transocean Ltd., owner of the ill-fated Deepwater Horizon drilling rig.

BP leased the rig from Transocean. The April 2010 explosion of the rig killed 11 workers and sent oil spewing into the Gulf of Mexico for 87 days.

Court rulings have put the brunt of responsibility for the disaster on BP. But Transocean and Houston-based cement contractor Halliburton also were found to have some responsibility.

Halliburton reached a $1 billion settlement with plaintiffs last year.