Plains Exploration Sells Gas Assets for $785 Million

Reuters Africa reported that Plains Exploration & Production (NYSE:PXP) sold few assets in Texas for $785 million in order to reduce natural gas heavy assets move towards more attractive liquids-rich properties.

As quoted in the market news:

Plains Exploration, better known by its stock exchange symbol of PXP, said it will sell assets in the gas-rich Granite Wash area of the Texas Panhandle for $600 million to Linn Energy , which already has assets in the region. PXP also agreed to sell its South Texas conventional natural gas properties to an unnamed entity for $185 million.

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