Halliburton (NYSE: HAL) has reached an agreement with the US Department of Justice (DoJ) to conclude the department’s criminal investigation of the company in relation to the April 20, 2010, incident involving the Macondo well in the Gulf of Mexico. A Halliburton subsidiary has agreed to plead guilty to one misdemeanor violation associated with the deletion of records created after the Macondo well incident, to pay the statutory maximum fine of $200,000, and to accept a three-year term of probation.
The DoJ has agreed that it will not pursue further criminal prosecution of the company or its subsidiaries for any conduct relating to, or arising out of, the Macondo well incident. The DoJ acknowledged the company’s significant and valuable cooperation during the course of its investigation, and Halliburton has agreed to continue to cooperate with the DoJ in any ongoing investigation related to, or arising from, the incident. The plea agreement is subject to court approval.