re: #598 Bagua

Note that Transocean has collected $481 million from a $560 million insurance policy on the Deepwater Horizon rig which was under contract to BP.

Here is the kicker, though, while Transocean share price is down about 24% since the accident, (NYSE:RIG) BP’s contract for the rig indemnifies Transocean against all environmental clean-up costs and legal damages. This according to Transocean CEO Steven L. Newman on a conference call.) This is why BP appears on the hook for everything.

The disaster does raise the premiums Transocean is currently negotiating, no surprise there.

Is it true Transocean is basically based in Texas but is incorporated in another country? I remember hearing that