Halliburton: Who Us? You Mean BP
Halliburton Company (NYSE:HAL) has been partly faulted for the BP (NYSE:BP) oil spill at the Deepwater Horizon rig (NYSE:RIG) in the Gulf of Mexico. The Spill probe has reported the disaster could have been averted if Halliburton (NYSE:HAL) and Transocean Ltd. (NYSE:RIG) been more careful in their vigilance for safety. However, the company defended itself saying its workers were not involved in making crucial decisions on the oil well:
“Every contributing cause where Halliburton is named, the operational responsibility lies solely with BP (NYSE:BP),” said a company spokesperson. That’s lawyer speak for “it’s someone else’s fault”.
The report is the culmination of a 17-month federal investigation into the blast at the Deepwater Horizon rig on BP’s Macondo well, which killed 11 workers and resulted in the worst oil spill in U.S. history.
Halliburton’s stock (NYSE:HAL) is now trading at $40.08, up 1.8%. The stock is down 1.84% year-to-date. The stock trades in a 52-week range between $28.86 and $57.77.