Please ensure Javascript is enabled for purposes of website accessibility

Halliburton Seeking Settlement Over Gulf Oil Spill

By Associated Press - Apr 22, 2013 at 11:11AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Halliburton Chief Financial Officer Mark McCollum said during a conference call Monday that talks are at an "advanced stage."

NEW ORLEANS (AP) -- BP's (BP -0.57%) cement contractor on the drilling rig that exploded in the Gulf of Mexico in 2010 says it is trying to negotiate a settlement over its role in the disaster.

Halliburton (HAL 1.34%) Chief Financial Officer Mark McCollum said during a conference call Monday that talks are at an "advanced stage." The Houston-based company says it hopes to resolve a substantial portion of private claims spawned after the explosion of the rig Deepwater Horizon.

Testimony ended last Wednesday in the first phase of a trial over the blast, which killed 11 workers and triggered the nation's worst offshore oil spill.

A federal judge in New Orleans ultimately could decide how much more money BP, Halliburton, and rig owner Transocean (RIG -0.36%) owe for their roles in the catastrophe.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

BP p.l.c. Stock Quote
BP p.l.c.
BP
$32.48 (-0.57%) $0.18
Transocean Ltd. Stock Quote
Transocean Ltd.
RIG
$4.18 (-0.36%) $0.01
Halliburton Company Stock Quote
Halliburton Company
HAL
$40.70 (1.34%) $0.54

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
344%
 
S&P 500 Returns
120%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/27/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.