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PXP > SEC Filings for PXP > Form 8-K on 23-Oct-2012All Recent SEC Filings

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Form 8-K for PLAINS EXPLORATION & PRODUCTION CO


23-Oct-2012

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

On September 4, 2012, Plains Exploration & Production Company ("PXP") entered into a purchase and sale agreement to acquire certain oil and natural gas interests in and near the Holstein, Diana, Hoover, Horn Mountain, Marlin, Dorado, King and Ram Powell fields located in the Gulf of Mexico, from BP Exploration & Production Inc. and BP America Production Company. In addition, on September 7, 2012, PXP entered into a purchase and sale agreement to acquire certain oil and natural gas interests in the Holstein field, located in the Gulf of Mexico from Shell Offshore Inc. The acquisition is expected to close on November 30, 2012, and to be effective as of October 1, 2012.

The audited Statements of Revenues and Direct Operating Expenses of Certain Oil and Gas Properties of BP Exploration & Production Inc. and BP America Production Company and the Holstein Field Working Interest for each of the three years ended December 31, 2011, 2010 and 2009, including the related reports of the independent auditors and independent registered public accounting firm, and the unaudited interim Statements of Revenues and Direct Operating Expenses for the six months ended June 30, 2012 and 2011, are attached as Exhibits 99.1 and 99.2, respectively, hereto.

The unaudited pro forma condensed combined financial statements and accompanying notes of PXP as of and for the six months ended June 30, 2012 and for the year ended December 31, 2011, are attached as Exhibit 99.3 hereto.

In addition, a summary of our open commodity positions as of October 19, 2012, is attached as Exhibit 99.4 hereto.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

23.1 Consent of Ernst & Young LLP.

23.2 Consent of PricewaterhouseCoopers LLP.

99.1 Audited Statements of Revenues and Direct Operating Expenses of Certain Oil and Gas Properties of BP Exploration & Production Inc. and BP America Production Company for each of the three years ended December 31, 2011, 2010 and 2009 and the unaudited interim Statements of Revenues and Direct Operating Expenses for the six months ended June 30, 2012 and 2011.

99.2 Audited Statements of Revenues and Direct Operating Expenses of the Holstein Field Working Interest for each of the three years ended December 31, 2011, 2010 and 2009 and the unaudited interim Statements of Revenues and Direct Operating Expenses for the six months ended June 30, 2012 and 2011.

99.3 Unaudited pro forma condensed combined financial statements and accompanying notes of PXP as of and for the six months ended June 30, 2012 and for the year ended December 31, 2011.

99.4 Summary of Open Commodity Positions as of October 19, 2012.


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