The Justice Department reached a $1.4 billion settlement…with Transocean Ltd., the owner of the drilling rig that sank after an explosion killed 11 workers and spawned the massive 2010 oil spill in the Gulf of Mexico. The proposed settlement resolves the department’s civil and criminal probe of Transocean’s role in the Deepwater Horizon rig disaster. It requires the…company to pay $1 billion in civil penalties and $400 million in criminal penalties and plead guilty to a misdemeanor charge of violating the Clean Water Act…The deal, which is subject to a federal judge’s approval, also calls for Transocean to implement a series of operational safety and emergency response improvements on its rigs. [also refers to BP, Halliburton]