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March 4, 2008
Plains To Buy 106 Bcfe Proved In S TX For $335MM

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Plains Exploration & Production Co., Houston, (NYSE: PXP) plans to acquire producing properties in South Texas from an undisclosed privately held company for $335 million.


The assets include 67,929 gross acres (34,509 net). Proved reserves are 106 billion cubic feet equivalent with an additional 70 billion of unproved potential. Net production is approximately 33 million cubic feet equivalent per day.

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