Halliburton Resolves Department of Justice Deepwater Horizon Investigation
HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYS: HAL) today announced that it has reached an agreement with the U.S. Department of Justice to conclude the department's criminal investigation of the company in relation to the April 20, 2010 incident involving the Macondo well in the Gulf of Mexico. A Halliburton subsidiary has agreed to plead guilty to one misdemeanor violation associated with the deletion of records created after the Macondo well incident, to pay the statutory maximum fine of $200,000 and to accept a term of three years probation.
The Department of Justice has agreed that it will not pursue further criminal prosecution of the company or its subsidiaries for any conduct relating to or arising out of the Macondo well incident. The Department of Justice acknowledged the company's significant and valuable cooperation during the course of its investigation, and the company has agreed to continue to cooperate with the Department of Justice in any ongoing investigation related to or arising from the incident. The plea agreement is subject to court approval.
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 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 web site at www.halliburton.com.
Information on Forward Looking Statements
NOTE: The statements in this press release that are not historical statements, including statements relating to the plea agreement with the Department of Justice, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: court approval of the plea agreement and actions by the court or other governmental agencies or bodies. The plea agreement does not cover all possible parties and claims, and there are additional reasonably possible losses relating to the Macondo incident that we cannot reasonably estimate at this time. Halliburton's Form 10-K for the year ended December 31, 2012, Form 10-Q for the quarter ended March 31, 2013, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
KEYWORDS: United States North America Texas
The article Halliburton Resolves Department of Justice Deepwater Horizon Investigation originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.