The film is being directed by Peter Berg.
The story unfolds on Deepwater Horizon, the infamous British Petroleum oil rig that caught fire and exploded on April 22, 2010 while drilling in the Gulf of Mexico, killing 11 crew members and resulting in the largest offshore oil spill in United States history.
Walhberg, 43, is starring as an electrician on the rig, and Rodriguez, 30, would play the movie's female lead, the communications officer for the company, said The Hollywood Reporter.