Oil Drilling Legal Expert Opens Consultancy, Publishes

Press Release May 22, 2012

Drilling contract expert Cary A. Moomjian, Jr. opens consulting firm, questions Deepwater Horizon contractual indemnities, writes on 'Historical Contract Development and Macondo Indemnities',

For over 35 years, Mr. Moomjian served in senior legal and commercial positions in the contract drilling industry, over half of which was as VP and General Counsel for two major drilling companies (Ensco and Santa Fe). His expertise includes domestic and international legal, contractual, commercial, and risk management matters including drilling and oil service contracts, joint venture relationships, shipyard rig construction projects, financings, mergers, and acquisitions as well as crisis response management. Mr. Moomjian also has substantial experience in dispute resolution and litigation management.

Mr. Moomjian recently authored an article titled “Drilling Contract Historical Development and Future Trends Post-Macondo: Reflections on a 35 Year Industry Career” which was published in summary form in the May-June 2012 edition of Drilling Contractor magazine. The article, which examines the development of drilling contracts and discusses future trends post-Macondo, constitutes the world’s most authoritative historical review of drilling contracts.

Perhaps the most intriguing aspect of the article is a critique of the recent summary judgment rulings in the ongoing litigation between BP and Transocean relating to the Macondo well blowout, rig fire, and oil spill. Commenting on the rulings that interpret the indemnity provisions in the Deepwater Horizon drilling contract, Mr. Moomjian expresses the opinion that “there are certain significant aspects of the governing contractual verbiage which may prove to be outcome determinative that were not addressed in the motions, the associated briefs, or the Court’s order.”

A link to the article and additional information regarding Mr. Moomjian’s new business activities are available on the CAM OilServ Advisors LLC website at http://www.camoilserv.com .