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Plains Exploration & Production

PXP

Plains Exploration & Production Company is an independent oil and gas company mainly engaged in the activities of acquiring, developing, exploiting, exploring and producing oil and gas properties in the United States. The company’s core areas of operations are the Los Angeles and San Joaquin Basins onshore California; the Santa Maria Basin offshore California, and the Gulf Coast Basin onshore and offshore Louisiana, including the Gulf of Mexico. As of December 2006, PXP had estimated proved reserves of 351.7 one million barrel equivalent of oil, of which 95% was consisted of oil and 52% was proved developed. Approximately 99% of its proved reserves are located onshore and offshore California.

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