By Houston Business Journal

Led in part by higher crude prices and a broad market jump, companies with ties to the BP oil spill in the Gulf of Mexico saw upticks in their stocks on Wednesday.

The gains come one day after BP Plc saw a near 9 percent increase in its shares after an analyst upgrade and amid rumors it is in investment talks with Middle Eastern investment firms and companies.

Since the April 20 Deepwater Horizon explosion and subsequent sinking that claimed the lives of 11 workers, shares of companies with ties to either rig or well have suffered.

But on Wednesday, those firms -- Anadarko Petroleum Corp., Transocean Ltd., Cameron International, Halliburton Co. and BP itself -- all saw upward movement in their stock prices.

  • The Woodlands-based Anadarko (NYSE: APC) led the rally - closing up 7.6 percent at $41.59. The stock was trading at $73.94 on April 20, the day of the explosion and had slid as low as $34.84 on June 30. Anadarko, which owns 25 percent of the Macondo well that exploded, is battling BP over the costs of the spill cleanup, which had climbed to $3.12 billion as of July 5.
  • Rig operator Transocean (NYSE: RIG), which is based in Switzerland but has significant operations in Houston, climbed 6.2 percent to close at $51.14. Shares were trading at $92.03 the day of the explosion and had since dropped as low as $41.88 in June.
  • Houston's Halliburton Co. (NYSE: HAL), which was responsible for cementing the well, was up 5.8 percent to $27.99. Its stock traded at $33.31 on April 20 and fell as low as $21.10 on June 1.
  • Houston-based Cameron International Corp. (NYSE: CAM), which built the failed blowout preventer on the rig, closed up 5.7 percent at $34.06. Its shares were trading at $46.04 the day of the explosion and have since fallen as low as $31.42 last week
  • London's BP, which leased the rig, shot up another 4 percent as well after its big gain on July 6.

The Houston Business Journal is providing continuous coverage of the Gulf oil spill.

Copyright 2010 American City Business Journals

Copyright 2010