MACONDO LIABILITY BALANCE SHIFTS SLIGHTLY FROM HALLIBURTON TO BP

Potential liabilities as a result of the 2010 Macondo oil rig disaster shifted slightly away from BP and towards Halliburton on Friday following the latter's admission the previous day that it had destroyed evidence of internal tests. The tests had failed to confirm Halliburton's claim that BP's decision to use only six casing centralizers, rather than the 21 recommended by Halliburton, was a factor in the Deepwater Horizon blow-out. Halliburton's tests found no difference in the effectiveness of blowout prevention if the greater number of centralizers was used. Halliburton, BP and Transocean are defendants in a federal civil trial that is scheduled to resume under Judge Carl Barbier on September 30 2013. Meanwhile, Halliburton said in its quarterly statement that its legal fees and other expenses related to the disaster had come to $223m, of which $190m was covered by insurance. Halliburton said that it had reached an agreement with some insurers that permitted it to continue to be reimbursed for covered legal costs. Halliburton has $600m of general liability coverage.