Transocean Reaches Agreement on Patent Infringement Lawsuit

Tuesday, February 20, 2007
Transocean Inc. announced that it has reached an agreement in its dispute with contract driller GlobalSantaFe over patent infringement of Transocean's offshore dual activity drilling technology. The agreement follows an amended final judgment entered last month by a federal district court against GlobalSantaFe. The judgment awarded damages to Transocean and permanently enjoined GlobalSantaFe from further infringement of the Transocean dual activity patents. On January 19, 2007, Judge Sim Lake of the U.S. District Court for the Southern District of Texas entered an amended final judgment against GlobalSantaFe following a jury verdict in Transocean's favor. In August 2006, a federal jury found in favor of Transocean after a trial of approximately two weeks before Judge Lake. The jury upheld the validity and enforceability of the Transocean dual activity patents, and awarded reasonable royalty damages of 5% of the revenue received by GlobalSantaFe for its infringing rigs. Based on the jury findings and an April 2005 summary judgment of infringement against GlobalSantaFe's Development Drillers I and II semisubmersible rigs, Judge Lake issued the amended final judgment awarding Transocean approximately $5.1 million in damages and a permanent injunction against further infringement by GlobalSantaFe. The damage award was based upon 5% of GlobalSantaFe's revenues from two infringing Development Drillers I and II operating in the Gulf of Mexico from start up until GlobalSantaFe modified the structure of its rigs in late December 2006 to comply with the terms of the permanent injunction. Transocean developed its dual activity drilling design in 1996 as part of a project to more efficiently construct wells in deepwater through the use of two complete drilling systems, allowing for parallel drilling operations to be conducted on a single well that saves operators both time and money, compared with conventional rigs. Transocean continues to discover new ways of saving its customers time and money in the drilling of deepwater exploration and development wells with the patented design.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1000 sec (10 req/sec)