Transocean, the owner of the Deepwater Horizon rig where 11 men died in April 2010, has agreed to pay $1.4 billion in criminal and civil penalties to resolve Justice Department allegations over its role in the Gulf of Mexico oil spill.
A Transocean subsidiary also agreed to plead guilty to a single criminal misdemeanor charge for violating the Clean Water Act. Federal authorities blamed the company for acting negligently when the rig's crew proceeded with maneuvers to the deep-sea well in the face of clear danger signals that oil and natural gas were flowing.