Halliburton pleads guilty to destroying Macondo offshore oil well records

Source:Halliburton Company

Halliburton Company (NYSE: HAL) today announced that it has reached an agreement with the U.S. Department of Justice 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 term of three years probation.

The Department of Justice 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 Department of Justice acknowledged the company’s significant and valuable cooperation during the course of its investigation, and the company has agreed to continue to cooperate with the Department of Justice in any ongoing investigation related to or arising from the incident. The plea agreement is subject to court approval.

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