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PXP lease buyout short on cash

Posted: Monday, Dec 10th, 2012

SUBLETTE COUNTY A deal negotiated to retire Plains Exploration and Production (PXP) drilling leases in the Hoback Basin could fall through if additional funds are not raised by Dec. 31.

The deal could also be threatened by PXPs imminent buyout by a larger mining company at the same time.

The Trust for Public Lands (TPL) announced the PXP lease deal Oct. 5 at a press conference in Jackson, but is still $2.25 million short of the negotiated price for the leases.

For the complete article see the 12-11-2012 issue.

Click here to purchase an electronic version of the 12-11-2012 paper.

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