Nasdaq Stock news: Known as the “BP squad,” a group of federal investigators charged with examining the Deepwater Horizon accident have begun looking into what roles BP, Transocean and Halliburton played in the disaster.
Officials with the Department of Justice, Environmental Protection Agency, the U.S. Coast Guard and other federal agencies are reviewing BP’s actions because it was leasing the rig from owner Transocean, while Halliburton is involved because it completed cementing work on the well just 20 hours before the explosion on April 20.
The investigative team also is trying to determine if any of the companies’ officials lied to federal regulators, obstructed justice or doctored test results for the rig’s failed blowout preventer. It is expected to take at least a year to determine if criminal charges will be filed. via allgov
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 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.