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FBR Capital: BP court battle with firms over Macondo 'not worth the risk'
09/20/2010
Despite BP PLC's effort in its internal report to blame contractors for mistakes leading to the Macondo well blowout in the Gulf of Mexico, the amount the British major might recover may not be "worth the additional financial and reputational risk" of a protracted legal battle, said analysts at FBR Capital Markets & Co., Arlington, Va.BP's recent report on the causes of the blowout and oil spill was critical of drilling contractor Transocean Ltd. and Halliburton Co. that did the original cement work for sealing the well. However, FBR Capital Markets analysts reported, "We found it particularly interesting that BP's report…did not seem to try to make any implicati...
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