PXP Offers $300MM Senior Notes Due 2019

Plains Exploration & Production Company (PXP) announced a $300 million offering of senior notes due in 2019. Net proceeds from the offering are expected to be used for general corporate purposes, including to fund a portion of the payment of the remaining drilling carry under PXP's agreement with Chesapeake Energy Corporation. The notes are expected to settle on September 11, 2009.