Transocean to pay $211m to settle claims from Deepwater Horizon oil spill

The Plaintiffs' Steering Committee (PSC) spearheading the litigation emanating from the 2010 Deepwater Horizon Oil Spill today announced that it has reached a preliminary agreement with Transocean for $211,750,000 to settle claims against the company arising from the spill. The settlement, which will be overseen by Judge Carl A. Barbier of the Eastern District of Louisiana, includes two classes of eligible claimants similar to the settlement negotiated between the PSC and Halliburton last year.