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David Lesar

Halliburton in Gulf spill settlement talks, takes charge

Halliburton Co is in talks to settle private claims against it in a trial to determine how blame should be shared for the 2010 Gulf of Mexico spill, the company said on Monday, and it took a $1 billion pretax charge for a possible deal.The disclosure of the talks helped push Halliburton shares up 3.5 percent. It came just days after the conclusion of court proceedings for the first phase of the trial to settle claims brought by the U.S. government and Gulf Coast states, as well as private parties affected by the worst U.S. offshore oil spill.BP Plc has sought to offload as much blame as possible on to rig owner Transocean Ltd and Halliburton, which performed the cement work on the well.Halliburton Chief Executive Officer David Lesar said the company believed an "early and reasonably valued" resolution was in the best interests of shareholders, and its most recent offer included cash components payable over time as well as stock."Discussions are at an advanced stage but have not yet res...

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Source: David Lesar on Freebase, licensed under CC-BY
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