Halliburton & Transocean Settlements
Both Halliburton and Transocean are Defendants in the BP Deepwater Horizon oil spill litigation. BP hired Halliburton as a contractor on the rig to provide cementing services (used to drill the well), while Transocean was the owner of the Deepwater Horizon (BP was the lessee). Both Halliburton and Transocean entered into settlement agreements with Plaintiffs in order to avoid the cost and risks associated with prolonging the litigation.
The Halliburton and Transocean Settlements, also known as HESI / TO Settlements, collectively set aside over $1.2 billion. Of that, $902 million will be distributed to certain plaintiffs as punitive damages and $337 million will be distributed pro rata to existing Deepwater Horizon economic loss claimants.
Our law firm was instrumental in securing hundreds of millions of dollars for economic class members, as we were appointed by the Court to advocate for class members to receive fair and reasonable compensation for the value of BP’s assigned claims. If you need assistance navigating the Halliburton and Transocean Settlement Process, please contact us for a no cost, no obligation consultation.