Transocean hopes for settlement in BP oil spill claims

The head of Transocean hopes the company can reach a comprehensive legal settlement of claims resulting from the BP oil spill.

CEO Steve Newman said the settlement would have to "recognize the relationship" between a drilling company and the drilling site operator.

Transocean leased the Deepwater Horizon rig to BP to drill a deep-sea well off the Louisiana coast.

Last week, a federal judge dismissed an investors' suit alleging top Transocean executives misled shareholders about safety problems in the months leading up to explosion.