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BP (NYSE:BP): Current price $40.21
On Friday, United States District Judge Carl Barbier’s ruling that that the drilling contract between BP and Transocean (NYSE:RIG) for the Macondo well that disallowed BP from seeking coverage under the Transocean policies for pollution-related liabilities, was overturned. The United States Court of Appeals in New Orleans reversed the decision, giving BP access to $750 million in Transocean’s insurance to pay costs from the 2010 Gulf of Mexico oil spill.
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