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PR Newswire (Tue, 8:25AM)
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PR Newswire (Mon, 7:33AM)
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PR Newswire (May 13, 2013)
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PR Newswire (May 9, 2013)
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PR Newswire (May 9, 2013)
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Plains Exploration & Production Company - Shareholder/Analyst CallTue, Nov 15, 2011
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PR Newswire (Tue, 8:25AM)
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PR Newswire (Mon, 7:33AM)
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PR Newswire (May 13, 2013)
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PR Newswire (May 9, 2013)
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PR Newswire (May 9, 2013)
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at CNBC.com (May 1, 2013)
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PR Newswire (Apr 19, 2013)
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at CNBC.com (Apr 4, 2013)
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PR Newswire (Feb 14, 2013)
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PR Newswire (Jan 2, 2013)
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at MarketWatch.com (Dec 6, 2012)
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at MarketWatch.com (Dec 5, 2012)
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at MarketWatch.com (Dec 5, 2012)
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at MarketWatch.com (Dec 5, 2012)
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at CNBC.com (Dec 5, 2012)
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at CNBC.com (Dec 5, 2012)
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at MarketWatch.com (Dec 5, 2012)
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at MarketWatch.com (Dec 5, 2012)
PXP vs. ETF Alternatives
Company Description
We are an independent oil and gas company engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States. We own oil and gas properties with principal operations in:
•Onshore California;
•Offshore California;
•the Gulf... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, May 20, 2:16 PM Plains Exploration (PXP +7.5%) shareholders vote to approve Freeport McMoRan’s (FCX -0.2%) acquisition of PXP at today's special meeting. The transaction is expected to close on May 31. Following completion of the transaction, there are expected to be ~1B shares of FCX outstanding. Earlier today, PXP declared a $3/share special dividend conditioned upon the completed merger. Comment! [Energy, Commodities, On the Move]
- Monday, May 20, 10:07 AM Paulson & Co., whose funds own ~9.9% of the outstanding shares (12.8M) of Plains Exploration (PXP +7%), says it will vote in favor of Freeport McMoRan's (FCX -0.9%) proposed takeover of PXP and McMoRan Exploration (MMR) as it "adds another avenue for growth, diversifies its cash flows, and increases the proportion of earnings from the United States." Comment! [Energy, M&A, On the Move]
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Monday, May 20, 9:10 AM
Premarket gainers: AQ +116%. MEAD +97%. PACT +38%. WBSN +28%. RSOL +26%. ROSG +16%. JASO +16%. JRCC +14%. QIHU +12%. LDK +9%. PXP +7%. IQNT +5%. VOYA +5%. DANG +5%.
Losers: XNPT -26%. NBG -8%. Comment! [On the Move] - Monday, May 20, 8:29 AM Sweetening the pot ahead of today's shareholder vote deciding the fate of Freeport McMoRan's (FCX) proposed takeover of Plains Exploration (PXP), PXP declares a special $3/share dividend and FCX announces a $1/share supplemental dividend to be paid upon closing the acquisition. With a close vote expected, the moves may well tip support in favor of the deal. PXP +6.2%, FCX +0.8% premarket. 5 Comments [Energy, On the Move]
- Thursday, May 9, 8:25 AM Freeport McMoRan (FCX) reiterates its support for its proposed acquisition of Plains Exploration (PXP) and that the agreed terms are the "best and final" offer. PXP says the financial and operational strength of the combined businesses will allow for accelerated value creation across the entire asset portfolio. FCX +1.3%, PXP -2.6% premarket. Comment! [Commodities, Energy, M&A, On the Move]
- Wednesday, May 8, 3:18 PM Freeport McMoRan's (FCX +2.7%) planned acquisition of Plains Exploration (PXP) likely will close in June despite objections, Morgan Stanley predicts as it maintains an Outperform rating on the shares. Long-term FCX shareholders should be rewarded with strong growth through 2015 and lower political uncertainty, the firm says, adding that copper inventories are starting to decline. 1 Comment [Commodities, M&A, On the Move]
- Tuesday, May 7, 2:29 PM Freeport McMoRan (FCX +0.2%) will not boost its offer for Plains Exploration (PXP +1.6%), according to sources cited by Dealreporter. Earlier today, ISS recommended shareholders vote against the deal as it believes the stock should trade higher based on intrinsic value alone. Comment! [Commodities, M&A, On the Move]
- Tuesday, May 7, 12:13 PM Proxy advisory firm ISS becomes the third financial outfit to come out against the proposed $6B takeover of Plains Exploration (PXP +2.2%) by Freeport McMoRan (FCX +0.4%). The FCX offer is too low, ISS says, adding that "even at the announcement day valuation of $49.55, the transaction would offer little or no takeover premium to the current stand-alone value." (earlier) 3 Comments [Energy, Commodities, M&A, On the Move]
- Thursday, April 18, 12:11 PM Analysts say Freeport McMoRan (FCX +1.4%) may need to raise its buyout bid for Plains Exploration (PXP +1.8%) to secure support from PXP stockholders ahead of initial drilling results from the key Phobos project in the Gulf of Mexico. Since the ~$50/share buyout was announced, FCX shares have slid 24%, reducing the value of the deal to ~$44/share. 7 Comments [Energy, M&A, On the Move]
- Wednesday, December 5, 2012, 12:57 PM Dahlman Rose analysts say that while Freeport (FCX -13.8%) investors, who viewed the company as a copper play, may look down on today's deal, the miner's balance sheet will better enable the expensive development of Plains' (PXP +25.2%) deepwater fields as well as McMoRan's (MMR +82.4%) Davy Jones prospect. The firm reiterates its Buy rating and $45 price target on FCX. 3 Comments [Commodities, Energy, M&A, On the Move]
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Wednesday, December 5, 2012, 12:45 PM
Midday top 10 gainers: MMR +82%. EBOD +69%. MBLX +32%. PXP +26%. UEPS +25%. MITK +23%. AVAV +16%. CYCC +15%. CIE +15%. PLAB +13%.
Midday top 10 Losers: CHTP -36%. LORL -35%. TIBX -21%. MFRM -21%. ANIK -20%. SINO -19%. BLIN -18%. P -17%. THQI -17%. FIZZ -15%. 1 Comment [On the Move] - Wednesday, December 5, 2012, 11:37 AM In its conference call on the purchase of McMoRan (MMR +82.2%) and Plains Exploration (PXP +26.1%), Freeport McMoRan's (FCX -13.5%) Richard Adkerson says the deal is an add-on to its mining business and not a diversion from current strategy, and FCX will continue to look for new mining opportunities. With margins and cash flows strong, FCX anticipates continuing its current dividend. 7 Comments [Commodities, Energy, M&A, On the Move]
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Wednesday, December 5, 2012, 9:10 AM
Premarket gainers: MMR +77%. PXP +25%. PPHM +21%. CIE +13%. UEPS +12%. OCZ +10%. FRAN +9%. SSRI +9%. EXXI +8%. TEA +7%.
Losers: CHTP -31%. MFRM -20%. MIND -17%. P -15%. FCX -14%. TIBX -13%. JRCC -11%. Comment! [On the Move] - Wednesday, December 5, 2012, 8:55 AM It's official: Freeport McMoRan (FCX) will acquire Plains Exploration (PXP) for ~$6.9B in cash and stock, and acquire McMoRan Exploration (MMR) for ~$3.4B in cash, or $2.1B net of 36% of the MMR interests currently owned by FCX and PXP. MMR +74.3%, PXP +25.2%, FXC -13.2% premarket. 15 Comments [Breaking News, Commodities, Energy, M&A, On the Move]
- Wednesday, December 5, 2012, 8:16 AM McMoRan Exploration (MMR) now up 50% premarket as the WSJ says Freeport McMoRan's acquisition could be valued at close to $20B and may be announced today. Plains Exploration (PXP) - also maybe a target - gains 25%. FCX -9.3% premarket. 6 Comments [M&A, Energy, On the Move]
- Wednesday, December 5, 2012, 7:27 AM McMoRan Exploration (MMR) soars 21% premarket after the FT reports Freeport McMoRan (FCX) is looking to get back into the energy production business, with MMR acquisition target #1. Another possibility is Plains Exploration (PXP), which has ties to both FCX and MMR. 4 Comments [M&A, Energy, On the Move]
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Energysystems
$FCX and $PXP shareholders apparently getting special dividends at completion of acquisition. 1$ per $FCX share and 3$ per PXP share. - View all 0 replies
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John Vincent
John Paulson added Plains Expl. ($PXP) & Realogy ($RLGY) while reducing Anglo Ashanti Gold ($AU) & $DLPH See http://bit.ly/163wqwC - View all 2 replies
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John Vincent: Will have to wait and see. In 2012, the US long portfolio performed well but the problem was bets that European debt crisis would worsen.
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LATEST REPLIES
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John Vincent
John Paulson added Plains Expl. ($PXP) & Realogy ($RLGY) while reducing Anglo Ashanti Gold ($AU) & $DLPH See http://bit.ly/163wqwC - View all 2 replies
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John Vincent: Will have to wait and see. In 2012, the US long portfolio performed well but the problem was bets that European debt crisis would worsen.
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Michael Bryant
"BP Is Said to Near $6 Billion Sale of Gulf Assets to Plains (PXP)." BP is still cheap. Long-term buy. http://yhoo.it/PbgSMt - View all 1 replies
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Ocean Man: The Blue Ocean Strategy says earnings beats are going to take these Eagle Ford producers to new highs. This is an example.
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g8trgr8t: he has more than he can drill now. why would he add unless he wanted to sell bigger operation and he doesn't want to sell -