Gulf of Mexico Subsea Alliance to Utilize New ‘Island Venture’ OCV

Halliburton (NYSE: HAL), Trendsetter Engineering and C-Innovations have announced formation of a strategic alliance which will utilize the new offshore construction vessel Island Venture to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore well intervention packages. The companies say the alliance leverages each members' strengths to … [Read more...]

Big Oil Deals Are Back as Halliburton Makes First Move

By Brooke Sutherland Nov. 17 (Bloomberg) -- Halliburton Co.’s pursuit of Baker Hughes Inc. may be just the start of big energy deals as oil prices slump. Crude has plunged to a more than four-year low amid a U.S. supply glut. That’s making top energy companies, from equipment makers to oil explorers, cheaper for buyers that have the capital to survive and the confidence … [Read more...]

Halliburton’s $1.1 Billion Spill Agreement Avoids Bigger Payouts

By David Wethe and Margaret Cronin Fisk Sept. 2 (Bloomberg) -- Halliburton Co.’s agreement to pay $1.1 billion to settle most of the lawsuits over its role in the biggest U.S. offshore oil spill helps it avoid billions more in potential penalties down the road. The oilfield services company, accused of doing defective work on BP Plc’s Macondo well before it exploded in … [Read more...]

Halliburton’s Guilt Doesn’t Absolve BP

By Tom Shroder Another Deepwater Horizon aftershock today with Halliburton, the contractor in charge of the cement job that was supposed to keep the Macondo well from blowing out, admitting that it destroyed evidence. As usual with this disaster, it’s very complicated, but the Halliburton admission does NOT mean that BP can now put the blame on its contractor, though … [Read more...]

Halliburton to Plead Guilty to Destroying 2010 Oil Spill Evidence

By Jef Feeley and Margaret Cronin Fisk July 26 (Bloomberg) -- A Halliburton Co. unit will plead guilty to destroying tests on cement work done on a BP Plc-owned oil well that exploded and caused the 2010 Gulf of Mexico oil spill, federal prosecutors said. Officials of Halliburton Energy Services Inc., which worked on BP’s Macondo well, will plead guilty on the … [Read more...]