Plains Shares Sink on BP Investment; Transocean Selling Rigs

Plains Exploration & Production stock dropped precipitously after it said it would spend $5.5 billion to buy BP assets in the Gulf of Mexico and another $560 million to buy an oilfield stake from Royal Dutch Shell. Shares of Plains (PXP), an independent, Houston-based oil and gas exploration and production company, were down $3.86, or 9.57%, [...]
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