Plains Exploration & Production Company

  • 5 Stocks Billionaire John Paulson Is Betting On

    By Meena Krishnamsetty - May 31, 2013 | Tickers: AU, LIFE, PXP, RLGY, S

    Billionaire John Paulson’s Paulson & Co. has struggled following its spectacular success in shorting the U.S. housing market (and, for a while, being long gold), but Paulson remains one of the most widely followed hedge fund managers. His fund recently filed its 13F with the SEC, disclosing many of its long equity positions as of the end of March; see the filing on the SEC's website. We track more »

  • A Big Shareholder Going Against This Potential Deal

    By Mike Thiessen - May 14, 2013 | Tickers: FCX, NEM, PXP

    The already tenuous proposed merger deal between Phoenix-based mining giant Freeport McMoRan (NYSE: FCX) and Houston-based Plains Exploration & Drilling Corporation (NYSE: PXP) took another hit with the surprise announcement that a major Plains shareholder would not vote for the deal in its current form. The shareholder is a privately held asset management firm known as CR Intrinsic. Since CR's opinion is highly respected within the investment community, its announcement more »

  • Payoffs and Headaches With the New Deals

    By Mike Thiessen - March 25, 2013 | Tickers: FCX, MMR, PXP

    In late December of 2012, Freeport-McMoRan (NYSE: FCX) announced that it would make two blockbuster purchases of fellow raw materials exploration and extraction companies. The first was a $6.9 billion deal with hot oil-and-gas exploration newcomer Plains Exploration Corporation (NYSE: PXP). The second was a long-anticipated transaction that would require it to repurchase all of the outstanding shares of its McMoRan Exploration (NYSE: MMR) subsidiary.

    Although these twin deals more »

  • Newfield Exploration: How Much Can it Get for its International Assets?

    By Nathan Kirykos - March 24, 2013 | Tickers: EPL, NFX, PXP, SD

    According to recent news, Newfield Exploration (NYSE: NFX) is weighing a sale of its international offshore assets in Malaysia and China. The company is now seeking certainty and growth from its onshore projects in North America, in such formations as the Uinta, Cana Woodford, Williston, and Eagle Ford. In September 2012, Newfield also divested its assets in the Gulf of Mexico (GOM) for $228 million. 

    However, Newfield does not re-invent more »
  • The Trouble Of Getting Paid Early

    By Shmulik Karpf - March 21, 2013 | Tickers: CHK, PXP, SD | Editor's Choice

    There's always something going on with Chesapeake Energy (NYSE: CHK). The giant gas & oil company never seems to get tired of surprising its shareholders and noteholders alike. Just a couple of months ago - Carl Icahn, the famous activist investor, first disclosed a major equity stake in the company following a 30% plummet in the share price, then came a sudden departure of its dominant and frivolous CEO, Aubrey McClendon more »

  • Billionaire John Paulson's Shakeups

    By Marshall Hargrave - March 14, 2013 | Tickers: CVC, DLPH, FCX, PXP, S

    Billionaire John Paulson manages one of the world's largest hedge funds, Paulson & Co., with around $29 billion in assets under management. Paulson focuses on event and distressed strategies. After reviewing John Paulson's latest buys and sells from the fourth quarter, here are a few things that stuck out (see all the stocks Paulson owns).

    Paulson's New Additions

    One of Paulson's new additions includes Sprint (NYSE: Smore »)
  • Billionaire John Paulson’s Stock Picks for 2013

    By Meena Krishnamsetty - February 18, 2013 | Tickers: DLPH, NXY, PXP, S, TMUS

    It’s often thought that 13F filings aren’t of use to investors, since they are released six to seven weeks after the end of a quarter. However, we think that there are a couple of different uses for this information. First, by pooling 13Fs it is possible to develop investment strategies that beat the market; for example, we have found that the most popular small cap stocks among hedge more »

  • Betting on the Monterey Shale

    By Meena Krishnamsetty - February 6, 2013 | Tickers: BRY, NFG, OXY, PXP, VQ

    Oil extraction by hydraulic fracturing, or “fracking,” has undoubtedly transformed the landscape of the American energy market (see The Definitive Guide to Fracking), put the United States on the fast track to energy independence, and thrust the names of shale formations such as the Marcellus, the Bakken, and Eagle Ford to the forefront of public consciousness. Soon, the sun-soaked, star-studded counties of Southern California may supplant the plains of North more »

  • Double Acquisition - How Can You Profit?

    By Mike Thiessen - January 28, 2013 | Tickers: FCX, MMR, PXP

    In early December, Freeport McMoRan Copper & Gold (NYSE: FCX) announced its intention to acquire McMoRan Exploration (NYSE: MMR) in a cash-for-stock deal valued at roughly $3.4 billion. Despite a lackluster earnings report from the smaller company, the deal now appears likely to close by the end of the second quarter of 2013. 

    At the same time, Freeport McMoRan has also agreed to purchase Plains Exploration & Production (NYSE: PXP) in more »

  • McMoRan Investors Focus Too Much on Davey Jones

    By Mark Holder - January 23, 2013 | Tickers: FCX, MMR, PXP

    Last week, McMoRan Exploration (NYSE: MMR) announced Q4 earnings that provided more of same regarding failures at the high profile Davey Jones #1 well. Considering the potential of the Davey Jones well and the famous pedigree (member of the musical group the Monkees), it can be understandable that investors ignore the other ultra-deep wells.

    Back in December, the leading ultra-deep Gulf of Mexico explorer accepted a buyout along with Plains more »

  • Is This Ambitious Energy Firm a Smart Buy?

    By Jordo Bivona - January 14, 2013 | Tickers: APC, COP, MRO, NBL, PXP

    Noble Energy (NYSE: NBL) announced its 2013 capital program and guidance and provided updates for the fourth quarter of 2012.

    2013 Highlights

    Total capital expenditures are estimated at $3.9 billion for 2013. 60% of the program is allocated to onshore U.S., 6% to the deepwater Gulf of Mexico, 15% to West Africa and 10% to the Eastern Mediterranean. Global exploration and appraisal activity is earmarked to receive 15 more »

  • Freeport McMoRan Earnings Preview: Cheap, But Worth the Risk?

    By Matthew Frankel - January 7, 2013 | Tickers: BHP, FCX, MMR, PXP, RIO, SCCO

    Freeport-McMoRan (NYSE: FCX) is one of the world’s largest copper producers, in addition to being a major producer of gold and molybdenum.  The company operates mines in North America, South America, Indonesia, and Africa.  The company’s stock price has been on a roller coaster ride over the past five years or so, from a split-adjusted high of $63.62 in mid-2008, before the entire market began to collapse more »

  • Looking Back on Credit Suisse's Top 2012 Picks

    By John Macris - January 7, 2013 | Tickers: FCX, FIO, MMR, PXP, S

    How did Credit Suisse's top-rated equities perform during 2012? The Swiss banking giant, which has a strong relationship with my favorite athlete, Roger Federer, made some bold calls during the course of the recent calendar year. Like Federer, Credit Suisse found success in a competitive market environment, but endured several unexpected losses as well.

    While the veteran investor knows it’s always possible to find improvement with 20/20 more »

  • Billionaire Leon Cooperman Thinks Freeport-McMoRan Has It Right

    By Meena Krishnamsetty - January 3, 2013 | Tickers: CAT, XOM, FCX, MMR, PXP

    Freeport-McMoRan (NYSE: FCX) took a punishing hit in the market in early December. At that time the company announced that it would be acquiring Mcmoran Exploration (NYSE: MMR), a company which had split from the larger Freeport-McMoRan organization some time ago, and Plains Exploration & Production (NYSE: PXP) at high premiums to where those stocks were currently trading. This made Freeport-McMoRan, a copper and gold producer which traders had often used more »

  • Buy Freeport-McMoRan as a Real Estate Rebound Play

    By Mark Holder - December 31, 2012 | Tickers: FCX, MMR, PXP, SCCO | Editor's Choice

    With the homebuilders and home improvement stocks already racking up impressive gains over the last year, investors are now looking for derivative plays to benefit from the coming rebound in the domestic real estate market. One of the most appealing stocks might just be copper producer Freeport-McMoRan Copper & Gold (NYSE: FCX).

    The company is one of the world’s largest miners of copper, gold, and molybdenum in terms of reserves more »

  • Why Chesapeake Energy Still Isn’t Worth Buying

    By Meena Krishnamsetty - December 27, 2012 | Tickers: CHK, EOG, MRO, PXP, SLB

    Chesapeake Energy (NYSE: CHK) continues to execute its 25/25 plan, which includes setting a 2-year production target of 25% and debt reduction of 25%. We believe the energy company still has near-term pressures that will lead to uncertainty for the stock. Earlier this year, famed corporate raider Carl Icahn took a large stake in an effort to realign asset utilization and help the company reposition its debt (check out more »

  • What the Freeport-McMoRan Acquisition Means for Plains Exploration?

    By Dr. Osman Gulseven - December 18, 2012 | Tickers: CHK, FCX, MMR, PXD, PXP

    Freeport-McMoRan (NYSE: FCX) has made an offer to acquire both Plains Exploration & Production (NYSE: PXP) and fellow junior oil and gas explorer Mcmoran Exploration (NYSE: MMR).  Initially the deal was seen as all positive for the juniors, since both have heavy debt loads and stand to benefit from an infusion of Freeport cash. However, analysts were quick to jump in with downgrades of Plains, since the deal calls for its more »

  • Can Freeport-McMoRan Turn Oil & Gas into New “Gold”?

    By Dr. Osman Gulseven - December 17, 2012 | Tickers: BHP, FCX, MMR, PXP, SCCO

    Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) closed at $38.28 on the afternoon of December 4th 2012.  Twenty-four hours later the share price dropped more than 15%, closing at $32.16.  Investors were deeply concerned with the company’s bold move to acquire Plains Exploration & Production (NYSE: PXP) and McMoRan Exploration (NYSE: MMR)

    In theory, the rationale for the move makes sense.  With mining costs exploding and sources of more »

  • This New Deal Is No Deal For Investors

    By Bill Edson - December 14, 2012 | Tickers: FCX, MMR, PXP

    Freeport-McMoRan (NYSE: FCX) announced plans to buy Plains Exploration & Production (NYSE: PXP) and McMoRan Exploration (NYSE: MMR) for $9 billion in cash and stock.  The deal is met with skepticism from investors who see no clear synergy in putting a mining, an oil exploration and a production company together.  Freeport’s shares lost 16% on the news, while Plains’ and McMoRan’s shares surged 23% and 87% respectively, after the more »

  • Mcmoran Exploration Returns to its Roots

    By Dr. Osman Gulseven - December 13, 2012 | Tickers: BHP, FCX, MMR, PXP, WTI

    Shareholders of oil and gas producer McMoRan Exploration (NYSE: MMR) got an early holiday present when their shares vaulted from $8.36 on Dec. 4 to $15.82 on Dec. 5, almost doubling in price.

    The good news was an announcement the company’s one-time parent, copper mining giant Freeport-McMoRan Copper & Gold (NYSE: FCX), that it intends to acquire Mcmoran, along with another mid-cap oil and gas company, Plains Exploration more »

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