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Halliburton Deepwater Horizon Investigation Closed

Stocks in this article: HAL

Halliburton (NYSE: HAL) announced today that the United States Department of Justice (DOJ) has closed its investigation of the company's role related to the Macondo well incident.

The federal judge in New Orleans, Louisiana, accepted the single misdemeanor guilty plea for the unauthorized deletion of a computer record that was created after the Macondo well incident. A fine of $200,000 and three years' probation was imposed by the court. The matter was resolved pursuant to a previously announced cooperation plea agreement between a Halliburton subsidiary and the DOJ.

In connection with the resolution, the DOJ’s investigating Task Force characterized the company’s cooperation in the case as “exceptional,” as well as “forthright, extensive and ongoing since the outset of the investigation.”

Halliburton believes that this closure holds significant positive impacts for the company, its employees and shareholders. The Company remains dedicated to operating with safety and integrity, delivering innovative and best-in-class services and solutions to its customers.

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 more than 140 nationalities in approximately 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.

Copyright Business Wire 2010

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