Halliburton Reaches Agreement with BP
May 20 2015 - 4:00PM
Business Wire
Halliburton (NYSE: HAL) today announced that it has reached an
agreement with BP Exploration & Production Inc. to resolve
remaining issues, which includes indemnities between the parties
and dismissal of all claims against each other, relating to the
April 20, 2010, Deepwater Horizon well incident in the Gulf of
Mexico.
“We are pleased to have reached an amicable resolution with BP,
our valued customer, that allows us to close another chapter in the
Deepwater Horizon case for Halliburton,” said Dave Lesar, chairman
and CEO of Halliburton. “This agreement allows Halliburton to
strengthen its relationship with BP by negotiating a global master
services agreement between the companies.”
Halliburton previously announced that it reached an agreement to
settle punitive damages claims against Halliburton by a class of
plaintiffs who allege damages to property or associated with the
commercial fishing industry arising from the Deepwater Horizon
incident, and all claims against Halliburton that BP assigned to
the settlement class in BP’s April 2012 settlement with the
Plaintiffs’ Steering Committee.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
more than 75,000 employees, representing 140 nationalities in over
80 countries, the company serves the upstream oil and gas industry
throughout the lifecycle of the reservoir - from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and
optimizing production through the life of the field. Visit the
company’s website at www.halliburton.com. Connect with Halliburton
on Facebook, Twitter, LinkedIn, Oilpro and YouTube.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520006512/en/
HalliburtonKelly Youngblood, 281-871-2688Investor
RelationsInvestors@Halliburton.comorEmily Mir, 281-871-2601Public
RelationsPR@Halliburton.com
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