Halliburton, BP’s cement contractor on the Macondo drilling rig that exploded in the Gulf of Mexico, shedding more than 4 million barrels of oil in the process, is planning the best way to allocate payment for settling Gulf oil spill claims, while also submitting to a $1 billion pretax charge.

Disclosure of these talks regarding the settlement has helped the company’s shares, causing them to rise more than 3 percent on April 23’s afternoon trade in the New York Stock Exchange, a change from the first-quarter loss the company experienced in connection with the spill.

Halliburton’s announcement came after the end of the first phase of the Gulf of Mexico oil spill trial, of which the U.S. government, Gulf Coast states, and private parties affected by the spill were the plaintiffs.

Unfortunately, many people who were negatively affected by this oil spill are not receiving the insurance assistance they should. If this describes your situation, talk with a lawyer from Williams Hart about taking legal action to get the money you need. Call 800-821-1544 today.