BP (NYSE:BP), Transocean (NYSE:RIG), Anadarko (NYSE:APC), Halliburton (NYSE:HAL) Credit Swap Price Increases

BP (NYSE:BP), Transocean (NYSE:RIG), Anadarko (NYSE:APC), Halliburton (NYSE:HAL) are not only getting hit from their connection and exposure to the oil spill in the Gulf of Mexico, but also from increased costs of doing business like that related to credit default swap price increases.

All four oil companies have incurred price increases from an increase in basis points in relationship to credit default swaps, which are used to insure their debt.

The higher the basis point the more costly the cost of buying the insurance.

BP had theirs rise 255 basis points, or $255,000 a year to insure $10 million for five years, a record amount for the company. That's a huge increase from the approximate 100 basis points just last Friday.

Transocean had their costs soar by 183 basis points to 590 basis points, also a record for the company, while Anadarko had theirs grow 103 basis points to a high of 430 basis points.

Halliburton didn't suffer as high as an increase but still had their basis points grow by 35 to 157 basis points, according to Markit data.