As the oil spill in the Gulf of Mexico continues to spread, allegations are coming to light that this may be the Halliburton oil spill. BP claimed all the responsibility for paying for the oil spill cleanup, and Transocean was operating the oil drilling platform - but both may now be seeking to Halliburton for oil spill answers.

Halliburton’s involvement in the oil spill

At the time Deepwater Horizon, owned by Transocean and being leased to BP, exploded and started the oil spill, Halliburton was working as a contractor. The oil well was intended to be cemented by Halliburton who was hired by Transocean. Cementing an oil well is when cement is pumped into an oil well to plug it and prevent an oil spill and combustible gas from leaking. Natural gas and oil will push through the cement when the cement is cracked, improperly pumped, or improperly mixed. The well had just been finished being cemented when the Deepwater Horizon had just finished. Halliburton will need more than payday loans to prove it wasn't the company's fault.

Oil spill concerns with Halliburton

Halliburton oil spill concerns are centered on this oil-rig-cementing process. Halliburton is the largest oil well cementing business within the world which is also 11 percent, rather $ 1.7 billion, of the business the company has. When the cementing process goes wrong, a Halliburton oil spill is typically the result. A 2007 study ended up finding that "cementing was a factor in 18 of 39 well blowouts in the Gulf of Mexico over a 14-year period." This is basically saying that Halliburton cementing issues are more common than equipment failure and pipe failure when it comes to the reason for Gulf of Mexico oil spills. Other countries like Australia have experienced oil spills as well.

Halliburton and oil spill lawsuits

You will find many lawsuits that are depending off of the Halliburton oil spill. Natalie Roshto, wife to one of the Transocean employees who was killed, has filed a lawsuit against Halliburton. The lawsuit suggest the explosion and ensuing oil spill are Halliburton’s fault. The lawsuit specifically states that "prior to the explosion, (Halliburton) was engaged in cementing operations of the well and well cap and, upon details and belief, improperly and negligently performed these duties, which was a reason for the explosion."

Halliburton will not claim responsibility of oil spill

Halliburton refuses to take responsibility for the oil spill although both BP and Transocean have agreed to take responsibility. Halliburton has only confirmed that the corporation had just completed cementing about 20 hours before the explosion.

Article Resources

Financial Times

http://www.ft.com/cms/s/0/48419230-57a3-11df-855b-00144feab49a.html

The Atlantic

http://www.theatlantic.com/science/archive/2010/05/halliburton-could-be-...

Wall Street Journal

http://online.wsj.com/article/SB1000142405274870357250457521459356476907...

CBS News

http://www.cbsnews.com/8301-503544_162-20004069-503544.html