Transocean Paying for Deepwater Horizon Explosion and Spill - kcentv.com - KCEN HD - Waco, Temple, and Killeen

Transocean Paying for Deepwater Horizon Explosion and Spill

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(KCEN) -- Transocean is paying up big time.

It'll pay one billion dollars in penalties and another 400 million dollars in criminal penalties.

The company is pleading guilty to a misdemeanor charge of violating the Clean Water Act.

In April of 2011, eleven workers were killed when the Deepwater Horizon rig sank after exploding.

A large part of the settlement will fund environmental restoration projects and spill-prevention research and training.

A federal judge still needs to approve the deal.

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