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Halliburton Doesn't Agree with BP's Proposed Settlement

Photo of Daniel Horowitz

According to a an article from Dow Jones & Company, Halliburton Co. has filed an objection to the $7.8 billion settlement with individual plaintiffs proposed by BP. The settlement stems from BP's involvement in the Deepwater Horizon oil rig explosion over 2 years ago. In its filing, Halliburton alleges that it had only limited time to review the proposed settlement. The settlement includes thousands of businesses, property owners and individuals in several states along the Gulf of Mexico. The settlements are for allegations that plaintiffs suffered economic damage from the 87-day oil spill. Halliburton also alleges that BP's settlement would make Halliburton responsible part of the settlement money by "improperly assigning claims against (Halliburton) to the plaintiff's steering committee." To this day, Halliburton denies that it has any responsibility for the Deepwater Horizon disaster.

According to court documents filed by Halliburton's attorneys, "The plaintiffs' steering committee and BP have had more than a year to structure the proposed settlements, using a veritable army of experts and attorneys. In contrast, (Halliburton) has had less than one week to review and analyze the proposed settlements." The document was filed in the U.S. District Court for the Eastern District of Louisiana.

The explosion which resulted in 11 deaths and ensuing oil spill from the oil well was the worst in the history of the Gulf Coast and resulted in thousands of lawsuits against well owner BP, rig operator Transocean Ltd., and Halliburton, which provided cementing services for the project.

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