Shares of Transocean (RIG +0.26%) rose 6% today on the news that the company had finally settled from the Macondo oil spill disaster in the Gulf of Mexico in April of 2010. In this video, Motley Fool energy analyst Joel South tells us that, to understand the sense of renewed investor confidence in Transocean, we need to look at BP (BP 1.31%) by comparison, which bore the brunt of the blame for the disaster and paid out the highest fines. They emerged as a leaner, more-focused company as a result. Investors can now breathe a sigh of relief, as they are glad to have the liability settled and, along with Transocean, can look forward to 2013 and the possibility of a reinstated dividend.
Transocean can now, finally, leave Deepwater Horizon in the past.
About the Author
Joel is a University of Washington graduate and covers energy and materials for The Motley Fool. Be sure to follow The Motley Fool's energy and materials Twitter for all your energy and materials coverage.
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