Ironshore Specialty Insurance v. Aspen Underwriting, Ltd.

GREGG COSTA, Circuit Judge:

Despite the steady march of technological progress in the oil and gas industry, drilling remains dangerous. When tragic accidents happen — such as the fire at a Texas oil well owned by Endeavor Energy Resources that killed two men employed by Basic Energy Services and set this case in motion — the resulting litigation often turns into a coverage dispute between the insurers of the entities involved in the drilling activity.

That is the case here. Endeavor and Basic entered into a master services agreement (MSA) containing an indemnity provision in which they agreed…