fracking, that allows drillers to crack open underground shale layers that contain oil and gas. That technology helped create a boom in natural gas production in the U.S. Halliburton reported net income of $627 million, or 68 cents per share for the first three months of the year. That compares with $511 million, or 56 cents per share, for the same part of 2011. Revenue increased by 30 percent to $6.87 billion, including a record $4.17 billion in North America. Shares rose by $1.51,toms shoes sale, or 4.6 percent, to $34.17. Halliburton's results include a $300 million charge related to its role in the 2010 Gulf of Mexico oil spill. The company had provided cementing services for BP PLC on the well that suffered the disastrous blowout. While it continues to spar with BP over who should take responsibility for the disaster, Halliburton said it needs to set aside funds for "probable losses" from future lawsuits and settlements. BP expects to pay more than $37 billion to cover damages and other costs, and it says Halliburton should pay a share of that. BP has collected several billion dollars from minority owners and other contractors associated with the well. Halliburton maintains that BP, as the well's owner,cheaptomsshoessalei.com, is responsible for causing the worst offshore oil spill in U.S. history. Meanwhile, Halliburton's revenues soared as the petroleum industry swept into the United States in search of access to underground shale. The number of rigs operating in oil fields increased 12 percent in the quarter, compared with a 17-percent drop in natural gas rigs, the company said. Halliburton said its North American business could become less profitable in the second quarter as more natural gas rigs go offline. Chemicals used for drilling wells are also getting more expensive, and the company could have a tougher time passing those costs on to its customers. ___ Follow Chris Kahn on Twitter at http://twitter.com/ChrisKahnAP Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download.
SYDNEY (AP) Tobacco companies accused the Australian government of destroying the worth of their trademarks by forcing them to strip logos off cigarette packs as a court battle over the world's toughest laws on cigarette promotion drew to a close Thursday,tomsoutletsalecheap.com. There was no immediate ruling following the three-day hearing in Australia's High Court over the constitutionality of the country's strict plain-packaging laws, which ban tobacco companies from displaying their distinctive colors, brand designs and logos on cigarette packs in a bid to make smoking less attractive. Cigarettes will instead be sold in drab, olive green packs, featuring graphic health warnings and images of cancer-riddled mouths and bulging, blinded eyeballs. The law takes effect in December. British A Related articles:

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