The Wall Street Journal today reported that Transocean Ltd., BP’s Deepwater Horizon drilling rig contractor, is largely protected from lawsuits and claims for damages resulting from the April explosion. The report stated that its contract with BP protects it from such losses. Apparently the contract is 400 pages long! Heavens above, I’ve read shorter books than that.
Not for naught did Shakespeare have his character Dick the Butcher say “The first thing we do, let's kill all the lawyers.”
Today’s New York Times is reporting that Transocean had safety issues at three other rigs drilling for offshore oil. So far the contractor has been returning its share of the legal claims invoiced by BP.
We shall see how long they are able to do this.
O’ill be back !