PATRICK E. HIGGINBOTHAM, Circuit Judge:
This appeal turns on whether third-party insurers can enforce a master services agreement's defense, indemnification, and insurance obligations. We conclude that those obligations run between the two parties to the master services agreement and thus are not enforceable by the insurers.
I.
BHP Billiton Petroleum Deepwater, Inc. ("BHP") is an energy exploration company. Prior to its bankruptcy filing, Deep Marine...
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