NU Online News Service
The firm owning the drilling rig that sank in the Gulf of Mexico could be liable for millions of dollars depending on its leasing agreement with BP, a lawyer familiar with oil and gas litigation said.
Meanwhile, in a filing with the Securities and Exchange Commission, Transocean, a global provider of drilling management services based in Zug, Switzerland, said the insured value of its drilling rig was put at $39 billion in aggregate.
Keith B. Hall, an attorney with the law firm Stone Pigman Walther Wittmann LLC in New Orleans, said there are three areas of liability coming out of this incident:
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