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Plains Exploration & Production
Plains Exploration & Production was an American petroleum company based in Houston, Texas. A spin-off from Plains Resources, Inc., the company was founded in 2002. Its operations, as of 2009, were all in North America, including California, Texas, Louisiana, Wyoming, and offshore of California and in the Gulf of Mexico. The company reported proved reserves of 292 million barrels of oil equivalent (BOE) at the end of 2008, with a potential total of over 2.2 billion BOE. In 2007, it was the fourth-largest oil producer in California (behind Chevron Corp., Aera Energy, and Occidental Petroleum).〔(California Department of Conservation, 2008 Annual Report )〕 It was acquired by Freeport-McMoRan in May 2013, at which time the former properties of PXP became part of the FCX Oil & Gas Inc. (FM O&G) division of Freeport-McMoRan.〔(Freeport-McMoRan Copper & Gold Inc. Completes Acquisition of Plains Exploration & Production Company )〕〔(Quarterly Report, 3rd Quarter 2014, Freeport-McMoran )〕
==History==
Plains Exploration & Production (PXP) was a spinoff from Plains Resources Inc., to which it was a subsidiary prior to 2002. Plains Resources at that time was a midstream production and transport company, but it spun off its exploration component on December 18, 2002 in order to focus on marketing, storage, transport, and terminalling of crude oil.〔(SEC Filing: Form 10-K/A, December 31, 2003 )〕 PXP grew further through the 2003 acquisition of 3TEC for approximately $313 million, and acquired Nuevo Energy in May 2004 for $945 million. These acquisitions gave it petroleum-producing assets scattered throughout the southwest and California.〔
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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