Halliburton Sues BP In Texas; Alleges Misrepresentation



(Dow Jones Newswires), Sep. 2, 2011

Halliburton filed a negligent misrepresentation, business disparagement and defamation lawsuit against BP in Texas state court related to the April 2010 Macondo explosion and oil spill in the Gulf of Mexico.

Halliburton has also moved to amend its multi-district litigation in New Orleans to include fraud claims against BP.

The oilfield-services company alleges BP provided Halliburton with inaccurate information--such as the actual location of hydrocarbon zones in the Macondo well--before cementing services began on April 19, 2010. Halliburton also claims BP has used and omitted that information in subsequent public statements, filings and governmental investigations.

"This lawsuit is the latest attempt by Halliburton to divert attention from its role in the Deepwater Horizon incident and its failure to meet its responsibilities," BP said in a statement. The energy giant said it has accepted responsibility for responding to the spill and is accordingly paying costs and compensation. BP "expects other parties to accept their responsibilities and bear their share of the costs," the statement said.

Last fall, BP released a report that largely faulted Transocean, the owner of the Deepwater Horizon drilling rig, and Halliburton for last year's disastrous Gulf of Mexico oil spill. While government investigations have generally assigned blame to both BP and its contractors, Transocean disclosed an internal investigation in June that focused almost entirely on decisions made by BP.

Halliburton said Friday it remains confident that all the work it performed was completed in accordance with BP's specifications, and that Halliburton is fully indemnified under the contract.

Shares of Halliburton were trading 2.8% lower at $41.83 moments after the opening bell.

Copyright (c) 2011 Dow Jones & Company, Inc.


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