Halliburton Pays $219M Over KBR's Shoddy Oil Pipeline Work

Law360, Los Angeles (February 11, 2013, 8:06 PM EST) -- Halliburton Co. disclosed Monday that it paid $219 million to Barracuda-Caratinga Leasing Co. in a long-running contract dispute between the Brazilian company and its former subsidiary KBR Inc. over the use of allegedly defective subsea bolts in the development of Barracuda's oil fields.

According to documents Halliburton filed with the U.S. Securities and Exchange Commission on Monday, the oil field services giant made the payment to Barracuda in January over allegedly faulty bolts that KBR installed on Barracuda's submarine oil and gas pipelines as part of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.