BP sues Halliburton, Transocean and Cameron one year later

By Phaedra Friend Troy

One year after the Deepwater Horizon accident in the deepwaters of the US Gulf of Mexico, producer BP (NYSE:BP) has sued three of the main oilfield services companies it contracted for the exploratory drilling campaign. 

According to Reuters, BP filed a lawsuit against offshore drilling rig contractor Transocean (NYSE:RIG), the operator of the Deepwater Horizon ultra-deepwater semisubmersible drilling rig

Additionally, the operator of the Macondo well sued Cameron International (NYSE:CAM), which provided the blowout preventer, or BOP, on the rig, which failed to automatically shut-down the well. 

Separately, BP also sued oilfield services firm Halliburton Co. (NYSE:HAL), which provided the cement on the well. 

Analysts believe that the companies likely do not foresee the lawsuits coming to court, but rather are positioning to distribute some of the financial burden of the accident, oil spill and clean up. 

Thus far, BP has spent billions in its effort to stop the oil spill and clean up the waters and coastline along the US Gulf of Mexico. 

A presidential investigation into the Deepwater Horizon accident stated that blame rested on a number of the service companies, but held BP mostly responsible for the accident. 

Since the accident, the US regulatory office that oversees oil and gas drilling and development has undergone a major overhaul, as has safety and drilling requirements in the US. Deepwater drilling in the US Gulf of Mexico has been shut-in for the year following the accident, but permits have recently been awarded to a handful of companies.

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