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Transocean Petitions To Limit Liability In Gulf Oil Blast To Mere $27 Million

05/13/2010 08:37 am ET | Updated May 25, 2011

Transocean Ltd., the owner and operator of the Deepwater Horizon drilling rig that burned and sank last month unleashing a massive oil leak into the Gulf of Mexico, will file in federal court Thursday a petition to limit its liability to just under $27 million, according to a person familiar with the company's plans and a copy of the filing reviewed by Dow Jones Newswires.

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