[thackney]

Many of those guys have some form of insurance, anyone operating these things in the gulf without it would be insane.

Most large companies like Shell, ConocoPhillips etc are self-insured. I worked with a couple different ones after major damage. Enron, however, was not self-insured.

[Ursus arctos horribilis]

And no Major seldom runs the risk of going it alone, almost all outlays are joint ventures by percentage wise. When one sees a platform or field, the signs may all be Chevron, or say Shell. But they are either the major joint venture investor, or, they were elected by the other joint owners as operator of the lease or facility.

The Major I worked for was not one of the true giants, but we had a excellent reputation as cost effective operators. Often even when a lesser joint venture owner, we operated many fields and offshore platforms.