PXP Declares Public Offering of 10MM Shares of Common Stock

Plains Exploration & Production Company has announced a registered underwritten public offering of 10,000,000 shares of its common stock. PXP will grant the underwriters a 30-day option to purchase up to 1,500,000 additional shares of common stock from PXP.

Net proceeds from the offering are expected to be used for general corporate purposes, including future capital expenditures.