Though BP has taken the brunt of the blame for the Gulf oil spill, the Deepwater Horizon rig was owned by Transocean, and as investigators delve deeper into what happened on April 20, they're focusing more on Transocean's maintenance practices.
BP and spill fund czar Kenneth Feinberg is taking a lot of flak for the details of the compensation program. One issue is the likelihood that people who take payments won't be able to sue later.
Halliburton shares climbed 2.8% in recent premarket trading after the oilfield services company said Monday its second-quarter net income climbed 83% to $480 million, or 53 cents a share, from $262 million, or 29 cents a share a year ago.
Two Marsh & McLellan executives who were convicted in an insurance industry bid-rigging case saw their convictions overturned Wednesday because the New York Attorney General's office failed to turn over 700,000 documents, including exculpatory and impeaching evidence.
U.S. District Judge Martin Feldman, who overturned the Obama administration's temporary ban on deep-water offshore oil drilling, has investments in oil industry companies including Ocean Energy, Prospect Energy, Peabody Energy and Halliburton.
Halliburton's explanation Wednesday that the oil field services company is fully indemnified against claims related to its role in the BP oil spill sent shares up 12%, but it could be a year or two before operations in the Gulf of Mexico return to anywhere near normal.