Friday, October 29, 2010

Open The Pod Bay Doors HAL (NYSE: HAL) (NYSE: BP)

Halliburton is being investigated by a government panel that claims the oil services company may have played a role in the deep water platform explosion in the Gulf of Mexico. Halliburton is said to have supplied cement to BP, that the company knew was unstable, for the purposes of sealing the well.

HAL came out with a 6-page statement however, citing that the results from the cement test were positive. Halliburton, which has been blaming BP for the disaster, did admit that there was no stability test done on the cement on the well which blew out on April 20th killing 11 workers.

Halliburton shares were up 0.57% on Friday after trading almost 8% lower on the Thursday.

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