Deepwater Horizon - Transocean Oil Rig Fire

Alcor,

No matter who was at fault, BP is ultimately responsible for all civil and criminal damages.

Now, BP will turn around and file subrogation claims against all parties involved and attempt to recoup equitable portions of the losses. In fact, just before the one year anniversary there were many suits and counter suits filed and most all of these will be negotiated out of court just like the MOEX claim. Using that settlement as a guide, Anadarko will likely settle out of court for $2.5 to $3 billion.

Remember, all 3 main players still have claims against all the subcontractors. When ALL the suits are settled we MIGHT be able to determine each party’s net loss for the event.

Just remember, by the lease agreement, BP is likely ultimately responsible for all losses.

The mineral lease I have on my property reads the same way. This is nothing new. leases in the USA have been written that way for years.

There are indemnity and hold harmless clauses in the subcontractors contracts that may shield them to some extent. It will be interesting to see how much weight those internal agreements will bear.

These are Just my personal opinions. Worst case is I am wrong on all counts.
If that’s the case I can handle it.