Halliburton pays $1.1 Billion for damages from Deepwater Horizon spill

Halliburton has agreed to pay a $1.1 billion settlement plaintiffs claiming damages resulting from the Deepwater Horizon oil spill of 2010. The moneys will be used to pay off damage claims from property holders and commercial fisheries along the gulf coast.

BP, the owner of the well, blamed Halliburton for faulty construction work while Halliburton said BP’s faulty management was responsible. Both companies, along with the owner of the rig, Transocean Ltd., have paidŒ out billions in settlement deals. Halliburton blamed BP.

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