HAL's Performance

Shares of Halliburton closed down 7.6% today. This drop was primarily influenced by the news  from the court room. Bureau of Ocean Energy Management  issued a report where it points out that failure of the well’s cementing process–which was Halliburton’s responsibility–was a lead cause of the incident.BP said it agreed with the report's core findings and that the accident was due to multiple causes by multiple parties. We will be closely monitoring the situation as the case progresses. The total cost for BP might be as high as $30 billion, which it will have to split with the contractors (if they were to be found guilty). We foresee  a possibility of selling HAL if future economic conditions continue to deteriorate   or BP's case progresses in a way that would be unfavorable to Halliburton.
-Vlad