PXP closes major GoM deepwater offshore acquisitions

Offshore staff

HOUSTON – Plains Exploration & Production Co. (NYSE:PXP) has closed on its acquisitions in deepwater Gulf of Mexico.

BP Exploration & Production Inc./BP America Production Co. PXP has acquired for $5.5 billion properties including the Marlin Hub, Horn Mountain, BP’s 50% interest in Holstein, Diana-Hoover, and Ram Powell.

In a separate purchase, PXP also acquired Shell’s 50% working interest in Holstein for $560 million.

11/30/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...