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Plains Exploration & Production Company

Latest Plains Exploration Production News

Anadarko Phobos discovery in deepwater Gulf of Mexico shows promise

Anadarko Petroleum Corp. (NYSE: APC) has made another oil discovery in the deepwater Gulf of Mexico. The Phobos-1 well encountered approximately 250 net feet of oil pay in Lower Tertiary-aged reservoirs.

PXP will participate in offshore Morocco exploration play

Houston-based Plains Exploration & Production Company [NYSE: PXP] said Jan. 2 that it has entered into a definitive agreement to participate in the highly prospective exploration play offshore Morocco.

Mining company Freeport enters oil and gas space with MMR, PXP acquisition

Freeport-McMoRan Copper & Gold Inc. has signed an agreement to acquire both Plains Exploration & Production Co. and McMoRan Exploration Co. in transactions totaling $20 billion.

BP to sell certain North Sea oil and gas fields to TAQA for $1.1B

BP has agreed to sell its interests in a number of central North Sea oil and gas fields to TAQA for $1.058 billion plus future payments which, dependent on oil price and production, BP currently expects will exceed $250 million.

$2.25B senior notes offering to help PXP fund BP acquisition

Plains Exploration & Production Co. intends to offer $2.25 billion of senior notes issued in an underwritten public offering. The senior notes are expected to be issued in two series, with the first series to be due in 2020 and the second series to be due in 2023.

BP sells Draugen interest to Shell for $240M

BP has agreed to sell its 18.36% non-operated interest in the Draugen field in the Norwegian Sea to AS Norske Shell for $240 million in cash.

PXP acquires nearly $6B in Gulf of Mexico assets from BP, Shell

In what analysts are calling a ‘transformative transaction,’ Plains Exploration & Production Co. (PXP) has added to its portfolio of mature oil fields with large asset acquisitions in the Gulf of Mexico, the company announced Monday.

Recent upstream MLP acquisitions favoring gassy assets

While many exploration and production companies favor transactions involving liquids-rich assets, acquisitions in the upstream master limited partnership (MLP) sector seem to be taking a more contrarian view.

OGJ 150

Revenue, net income show small increases in 4Q2012

May 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final...

Helix completes sale of oil and gas business

Feb 6, 2013 Helix Energy Solutions Group Inc.has closed the previously announced sale of Energy Resource Technology GOM Inc. (ERT), the company’s oil and gas s...

Revenue, net income drop sharply in 3Q12

Feb 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal continued their d...

WPX Energy makes natural gas discovery in Niobrara formation

Jan 23, 2013 Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado ...

Helix to divest oil and gas subsidiary to grow well intervention business

Dec 13, 2012 International offshore energy company Helix Energy Solutions Group Inc. has agreed to sell its oil and gas subsidiary to privately-held upstream oi...

OGFJ 100P

FourPoint raises $1B in capital, partners with EnerVest in Anadarko Basin

Jan 31, 2014 FourPoint Energy LLC has acquired certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Bas...

OGFJ100P company update

Jul 11, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Maverick Brothers Energy gets $35M in equity capital from Post Oak Energy

Apr 8, 2013 Post Oak Energy Capital LP, through investment partnerships it manages, has commitment of $35 million in equity capital to privately held explorati...

Midstates Petroleum to acquire Anadarko Basin assets from Panther Energy

Apr 4, 2013

OGFJ100P company update

Jan 1, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Oil & Gas Companies

Cunningham Energy plans ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC is planning three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia, from the “Dragon’s Breath” pad, with specified measured depths ranging from 4,750 feet to 5,200 feet.

L&L Energy to voluntarily delist from NASDAQ

L&L Energy Inc., a US-based company with energy (coal) operations in China, has notified NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock (LLEN) from the NASDAQ.

Weatherford to move headquarters to Ireland

Weatherford International Ltd. has made plans to move its corporate headquarters from Switzerland to Ireland, after the Swiss government handed investors authority to rein in top-level executive pay.

Cantex Energy announces new president, headquarters

Cantex Energy Corp. reports that its board of directors has hired Paul Henley as CEO and president. Additionally, the company’s corporate headquarters will be moved to Dallas, Texas.

Weatherford to cut back Venezuela operations

This year, Weatherford International Ltd. plans to reduce its operations in Venezuela, while expanding its operations in Russia, according to Reuters.

Oil Basins receives grant for Derby Block

The Western Australian Department of Mines and Petroleum has confirmed to Oil Basins Ltd. that the grant of the Derby Block (formerly 5/07-EP), as Permit EP 487, has been made for a period of six years.

Petronas and Shell find oil in Limbayong field offshore Sabah

Malaysia's national oil and gas company Petroliam Nasional Berhad (Petronas) and Royal Dutch Shell plc have made an oil discovery offshore Sabah, Malaysia.