PXP Announces $600M Senior Notes Offering

Plains Exploration & Production Co. on Monday announced a $600 million offering of senior notes, to be issued in two series of notes. The first series will be due in 2015, with the second series due in 2019. Net proceeds from the combined offering will be used to repay amounts currently outstanding under its revolving credit facility.

J.P. Morgan Securities Inc. and Lehman Brothers Inc. will act as joint book-running managers for the offering. The offering will be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from J. P. Morgan Securities Inc., 270 Park Ave., 8th Floor, Attention: Syndicate Desk, New York, NY 10017, 212-834-4533; or Lehman Brothers Inc., Attention: Prospectus Department, 745 7th Avenue, New York, NY 10019, 888-603-5847.

PXP is an independent oil and gas company primarily engaged in the upstream activities of acquiring, developing, exploiting, exploring and producing oil and gas in its core areas of operation: onshore and offshore California, Colorado, and the Gulf Coast region of the United States. PXP is headquartered in Houston, Texas.


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