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Halliburton Agrees To Pay $1.1 Billion To Avoid Future Claims

Halliburton Co. has reached a settlement in U.S. District Court in New Orleans to pay $1.1 billion to resolve most of the claims against it arising from the Deepwater Horizon oil spill in the Gulf of Mexico in a deal the company says could save it billions in future claims.The settlement, announced Sept. 2, must be approved by a federal court. The money, from a $1.3 billion fund that Halliburton had set aside for costs related to the spill, will be held in escrow until all appeals are exhausted, then will be paid out in three installments.The Deepwater…

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