19 Feb 2004director interest notice● Neutral
PLAINS EXPLORATION & PRODUCTION CO EVP & CFO Stephen A Thorington received 35,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Feb 2004substantial holder notice● Neutral
Advisory Research, Inc disclosed a new substantial PLAINS EXPLORATION & PRODUCTION CO shareholding (9.65% of votes).
13 Feb 2004director interest notice● Neutral
PLAINS EXPLORATION & PRODUCTION CO EVP & CFO Stephen A Thorington had 4,164 shares withheld for taxes on vesting stock.
12 Feb 2004business combination● NeutralMajor
PXP announced a definitive agreement on February 12, 2004 to buy Nuevo Energy Company in an all-stock deal valued at about $945 million (based on the Feb 11 close). Nuevo holders would get 1.765 PXP shares per share (up to 37.4 million new PXP shares), and PXP would assume $234 million of net debt and $115 million of convertible preferred securities, with closing expected in the second quarter of 2004. The same filing gives 2004 guidance excluding Nuevo: production of 13,400-14,500 MBOE, capital spending of $163-177 million and about 40.2 million basic shares, and says PXP may sell Illinois assets effective February 1, 2004 and other non-core assets. This is a second large acquisition following the 3TEC deal, and it would substantially increase the share count.
20 Jan 2004securities registration● Neutral
PLAINS EXPLORATION & PRODUCTION CO registered a securities offering with the SEC using its shelf eligibility.
12 Nov 2003director interest notice● Neutral
PLAINS EXPLORATION & PRODUCTION CO SVP - Accounting & Treasurer Cynthia A Feeback exercised stock options for 15,000 shares and disposed of 30,000 shares.
10 Oct 2003director interest notice● Neutral
PLAINS EXPLORATION & PRODUCTION CO director Jerry L Dees exercised stock options for 10,000 shares and disposed of 20,000 shares.
12 Sept 2003securities registration● Neutral
PLAINS EXPLORATION & PRODUCTION CO filed the final prospectus for a registered offering.
11 Sept 2003director interest notice● Neutral
John F Wombwell became a PLAINS EXPLORATION & PRODUCTION CO EVP & General Counsel and company insider (initial ownership filing).
10 Sept 2003director interest notice● Neutral
PLAINS EXPLORATION & PRODUCTION CO Executive Vice President & CFO Stephen A Thorington had 3,967 shares withheld for taxes on vesting stock.
29 Aug 2003business combination● Neutral
PXP filed a registration statement to swap $75 million of the 8.75% senior subordinated notes due 2012 sold privately on May 30, 2003 (which helped fund the 3TEC deal) for identical notes that can be freely traded. PXP receives no proceeds and the terms are substantially identical, so this is a routine follow-up to the 3TEC financing and does not change the company's debt.
2 July 2003director interest notice● Neutral
Timothy T Stephens became a PLAINS EXPLORATION & PRODUCTION CO EVP, Secy and General Counsel and company insider (initial ownership filing).
1 July 2003director interest notice● Neutral
Tom H Delimitros became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).
1 July 2003director interest notice● Neutral
Timothy T Stephens became a PLAINS EXPLORATION & PRODUCTION CO EVP, Secy & General Counsel and company insider (initial ownership filing).
30 June 2003director interest notice● Neutral
Timothy T Stephens became a PLAINS EXPLORATION & PRODUCTION CO EVP, Secy & General Counsel and company insider (initial ownership filing).
24 June 2003director interest notice● Neutral
John H Lollar became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).
19 June 2003director interest notice● Neutral
Stephen A Thorington became a PLAINS EXPLORATION & PRODUCTION CO EVP & CFO and company insider (initial ownership filing).
19 June 2003asset acquisition disposition▲ GoodMajor
PXP completed its acquisition of 3TEC on June 4, 2003, so the pending merger is done and 3TEC is now a PXP subsidiary. Each 3TEC share became 0.85 of a PXP share plus $8.50 cash; PXP paid about $152.4 million in cash to common holders, issued 16.1 million shares (40.3 million outstanding after closing), and paid another $113.1 million to retire 3TEC debt, warrants and preferred stock. It was funded by a $75 million add-on of 8.75% senior subordinated notes due 2012 (issued May 30, 2003) and borrowings on the $500.0 million JPMorgan credit facility ($240 million drawn at closing, borrowing base $402.5 million). The deal adds 3TEC's East Texas and Gulf Coast gas-weighted properties (49 MMBOE proved reserves at end of 2002).
9 June 2003substantial holder notice● Neutral
ENCAP INVESTMENTS L.L.C, ENCAP ENERGY CAPITAL FUND III, L.P reported a PLAINS EXPLORATION & PRODUCTION CO shareholding of 4,423,125 shares (10.90% of votes) in a periodic institutional filing.
6 June 2003director interest notice● Neutral
John H Lollar became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).
6 June 2003director interest notice● Neutral
James C Flores became a PLAINS EXPLORATION & PRODUCTION CO Chairman of the Board and CEO and company insider (initial ownership filing).
6 June 2003director interest notice● Neutral
James C Flores became a PLAINS EXPLORATION & PRODUCTION CO Chairman of the Board and CEO and company insider (initial ownership filing).
5 June 2003director interest notice● Neutral
Encap Investments LLC became a PLAINS EXPLORATION & PRODUCTION CO 10%+ owner and company insider (initial ownership filing).
5 June 2003director interest notice● Neutral
Encap Investments LLC became a PLAINS EXPLORATION & PRODUCTION CO 10%+ owner and company insider (initial ownership filing).
5 June 2003director interest notice● Neutral
Robert L Zorich became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).
4 June 2003director interest notice● Neutral
Cynthia A Feeback became a PLAINS EXPLORATION & PRODUCTION CO SVP Accounting & Treasurer and company insider (initial ownership filing).
4 June 2003director interest notice● Neutral
Timothy T Stephens became a PLAINS EXPLORATION & PRODUCTION CO EVP, Secretary & Gen Counsel and company insider (initial ownership filing).
4 June 2003director interest notice● Neutral
Alan R Buckwalter III became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).
4 June 2003director interest notice● Neutral
James C Flores became a PLAINS EXPLORATION & PRODUCTION CO Chairman of the Board & CEO and company insider (initial ownership filing).
4 June 2003director interest notice● Neutral
John H Lollar became a PLAINS EXPLORATION & PRODUCTION CO director and company insider (initial ownership filing).