Halliburton shares tumble on spill report |
| MarketWatch - Oct 29, 2010 |
Halliburton Co. shares slumped nearly 15% Thursday after the presidential commission investigating BP PLC’s blowout in the Gulf of Mexico said the oil-services company may share some of the blame for the disaster.
A letter from the commission’s lead lawyer said the investigation found that Halliburton /quotes/comstock/13*!hal/quotes/nls/hal (HAL 31.56, -0.12, -0.38%) may have known the cement mix used to seal the Macondo was inadequate for the task.
The well ruptured April 20 as it was being plugged, killing 11 workers, destroying the Deepwater Horizon rig and triggering the worst oil spill in U.S. history.
The commission also pointed out that tests of the sealing job were either misinterpreted or not made by well owner BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 40.60, +0.50, +1.25%) or the drilling rig’s operator, Transocean Ltd. /quotes/comstock/13*!rig/quotes/nls/rig (RIG 64.06, -0.10, -0.16%)
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- Posted: 2010-10-28 23:49:44
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