Report of Gulf spill lapses hits Transocean shares

SAN FRANCISCO (Reuters) - Shares of Transocean Ltd fell on Monday after the U.S. Coast Guard found that serious safety lapses by the rig owner contributed to the disastrous well blow-out in the Gulf of Mexico last year.

The Coast Guard said its investigation revealed "numerous systems deficiencies, and acts and omissions by Transocean" and the crew of the Deepwater Horizon rig, which BP Plc had contracted to drill the well.

In a statement on last April's blowout that emerged over the weekend, the Coast Guard said those lapses had an adverse impact on the ability to prevent or limit the magnitude of the disaster at the Macondo well.

Shares of Transocean, based in Switzerland, fell 2.2 percent on the New York Stock Exchange, mirroring a 2.2 percent decline in Swiss trading. The Philadelphia Stock Exchange Oil Service index was down about 1 percent.

Transocean said it strongly disagreed with key findings of the report, stressing that the Coast Guard had inspected the Deepwater Horizon seven months before the blowout and certified it as fully compliant with all marine safety standards.

"Further, at the time of the accident the Deepwater Horizon possessed all required valid documents verifying compliance with international and Coast Guard requirements," the company said in an emailed statement. "We look forward to setting the record straight."

Late last week, a barrage of court claims pitted BP against Transocean, cementing contractor Halliburton Co and blowout preventer maker Cameron International Corp as they all sought to spread the cost of Macondo.

Halliburton then revealed in a filing with U.S. financial regulators on Friday that it filed claims this month against all the companies involved in the post-Macondo legal battle, as well as Schlumberger Ltd unit M-I Swaco, Weatherford International Ltd and Dril-Quip Inc.

Halliburton said claims include some seeking contractual indemnification from drilling fluids specialist M-I Swaco and Weatherford, a provider of other well equipment and services, and also claims for strict product liability against Cameron, Weatherford and Dril-Quip, a wellhead systems company.

(Reporting by Braden Reddall)