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Plains Exploration & Production Pays $900,000 Civil Penalty

By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The agency that collects revenue for oil and gas production on federal lands said that Plains Exploration & Production Co. (PXP) has paid almost $900,000 to resolve allegations that it failed to comply with a request to submit production reports. The Houston company "repeatedly failed to comply with requests" to submit monthly oil and gas operations reports for Pogo Producing Co., which Plains acquired in November 2007, the Bureau of Ocean Energy Management, Regulation and Enforcement said in a statement. A Plains spokeswoman referred calls to spokesman Scott Winters, who could not immediately be reached. The agency said that it put Plains on notice that the company was out of compliance with reporting requirements following the acquisition. When Plains failed to comply with that notice, the agency said, it ordered an $838,272 civil penalty. The company ultimately paid $899,200 because penalties continued to accrue, the agency said. Plains has now submitted all the required monthly production reports, the agency said. -By Siobhan Hughes, Dow Jones Newswires; 202-862-6654;

Stock News for Plains Exploration (PXP)
05/20/201315:33:11Correction to Plains Exploration Merger Story
05/20/201315:30:10Plains Exploration Board Approves Freeport-McMoRan Deal
05/20/201315:04:49Plains Exploration Board Approves Merger With Freeport-McMoRan
05/20/201308:52:05Plains Exploration to Pay $3 Special Dividend if Freeport-McMoRan...
05/16/201308:58:35Plains: Majority of Voting Shareholders Choose Freeport Stock...
05/13/201308:24:38Plains Exploration CEO Urges Shareholders to Back Freeport-McMoRan...
05/09/201315:02:42BASE METALS HIGHLIGHTS: Top Stories Of The Day
05/09/201309:30:22Freeport-McMoRan Won't Raise Plains Offer
05/09/201309:22:11Freeport-McMoRan Won't Raise Offer for Plains Exploration
05/02/201308:30:04Plains Exploration Swings to 1st-Quarter Profit; Revenue Surges
04/25/201308:44:11Anadarko Well Hits New Deep Water Gulf of Mexico Oil Discovery
02/28/201318:20:59Busy Session for Corporate Bond Sales
02/21/201308:18:05Plains Exploration 4th-Quarter Net Soars on Higher Oil Revenue
01/22/201309:08:12Freeport-McMoRan 4th-Quarter Profit Up 16% on Higher Output
12/06/201208:05:10Freeport McMoRan's Foray Into Energy Rattles Shareholders
12/05/201216:58:20MARKET SNAPSHOT: U.S. Stocks Gain But Apple Weighs On Nasdaq
12/05/201215:25:13MARKET SNAPSHOT: U.S. Stocks Gain; Dow Up Triple Digits
12/05/201213:23:31BlackRock's Hambro: Freeport McMoRan Broke Investors' Trust
12/05/201213:10:11Freeport McMoRan Seen Entering Big League

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