Plains Exploration to Buy BP Wells for $5.5 Billion
Reuters reported that Plains Exploration & Production Co. (NYSE:PXP) plans to borrow $7 billion so that it can purchase BP plc's (LSE:BP) stake in some deepwater wells in the Gulf of Mexico. Since...
View ArticleFreeport-McMoRan Takes a Dive as Investors Question Motives for Big Acquisitions
Freeport-McMoRan’s plan to buy Plains Exploration & Production, as well as its former sister firm, McMoRan Exploration, wasn’t likely to get shareholder praise as it adds $20 billion to the...
View ArticleOil Market Update (January 8, 2013)
A brief overview of oil price developments, supply and demand and significant market movers.Continue reading...
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