A federal judge has approved Transocean Ltd.'s agreement with the Justice Department to pay $1 billion in civil penalties for its role in the massive 2010 oil spill in the Gulf of Mexico.
U.S. District Judge Carl Barbier said in his ruling Tuesday that he found "no just reason for delay" in approving the civil settlement.
Last week, a different judge approved Transocean's criminal settlement with the federal government. The company pleaded guilty to a misdemeanor charge and will pay an additional $400 million in criminal penalties.
The Deepwater Horizon rig exploded off Louisiana’s coast in 2010, unleashing an unmatched oil spill from BP’s Macondo well.
About eight months later, the Justice Department filed suit to recover damages.
BP entered into a $4.5 billion settlement of criminal claims in November.
The owner of the rig, Transocean, has just agreed to plead guilty and pay $1.4 billion in criminal and civil penalties for violating the Clean Water Act. A federal judge is likely to sign off on the agreement at a hearing set for Feb. 14.