Halliburton to Pay $1.1 Billion to Settle Deepwater Horizon Litigation

By on September 29, 2014

Halliburton agreed to settle litigation involving the 2010 Deepwater Horizon oil rig explosion with various plaintiffs including fisherman and charter boat operators for $1.1 billion.

A federal commission concluded Halliburton along with BP and Transocean, contributed to the disaster by trying to cut corners.  Specifically, Halliburton was found responsible for its unstable cement job on the well which led to the explosion.

Last year, Halliburton pled guilty to destroying evidence, including results of post-disaster internal tests that were designed to assess the reliability of advice the company provided to BP prior to the explosion.

Halliburton stated that the settlement agreement covers:

  • Claims against Halliburton derived from a class-action settlement between BP and thousands of individuals and businesses who had reported damage resulting from the disaster.
  • Punitive damages against Halliburton by plaintiffs who claimed that they suffered property damage or losses pertaining to the commercial fishing industry.
  • Confirmation that Halliburton has no liability for damages originating from BP’s 2012 $7.8 billion class-action settlement.

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