US energy service giant Halliburton said yesterday it was in talks to settle private claims against it in a trial to determine how blame should be shared for the 2010 Gulf of Mexico oil spill.
The disclosure came days after the conclusion of court proceedings for the first phase of the trial to settle claims brought by the US government and gulf coast states, plus private parties affected by America’s worst offshore spill.
BP has sought to offload as much blame as possible on to rig owner Transocean and Halliburton, which was responsible for cement work on the well.
Halliburton said it believed an early and reasonably valued resolution was in the best interests of shareholders, and its most recent offer included cash instalments and shares.
Chief executive David Lesar added: “Discussions are at an advanced stage but have not yet resulted in a settlement.”
The Houston-based company booked a £656million pre-tax charge for a possible deal in its first-quarter results, which contributed to net losses of £10.5million, compared with profits of £413million a year earlier.
Revenue in the latest period was £4.6billion, up by 1.5% on the first quarter of 2012.
Sales outside North America grew by 21%.