Plains Exploration & Production Company (PXP)

[OilStockReport]

PXP is increasing its portfolio nicely. This acquisition from HUSA is a smart play on both ends since HUSA needs development capital and PXP is positioned to do quite a bit more with these SoTx assets.

HOUSTON, Nov. 16, 2010 /PRNewswire-FirstCall/ -- Plains Exploration & Production Company (NYSE: PXP) announces it has closed the previously announced acquisitions of oil and gas properties in the Eagle Ford oil and gas condensate windows in South Texas, subject to customary post closing adjustments.

PXP is an independent oil and gas company primarily engaged in the activities of acquiring, developing, exploring and producing oil and gas in California, Texas, Louisiana and the Gulf of Mexico. PXP is headquartered in Houston, Texas.