Plains Exploration (PXP) will participate in the offshore Morocco exploration play, agreeing to...

|About: Plains Exploration & Produc... (PXP)|By:, SA News Editor

Plains Exploration (PXP) will participate in the offshore Morocco exploration play, agreeing to pay $15M to farm-in to Pura Vida Energy's 75% working interest in the 2.7M acre Mazagan permit area. PXP will earn a 52% working interest and act as operator in exchange for funding 100% of the costs of certain exploration activities. The first exploration well is expected to be drilled in 2014.