Business Services Industry
Houston-Based Plains Exploration & Production to Buy 3TEC Energy Corp.
Knight Ridder/Tribune Business News, February, 2003
By Michael Davis, Houston Chronicle Knight Ridder/Tribune Business News
Feb. 4--Plains Exploration & Production Co. will buy oil and gas explorer 3TEC Energy Corp. for $333 million, expanding Plains Exploration into East Texas and the Gulf Coast, the companies said Monday.
The cash and stock deal is the first major acquisition for Plains Exploration, which was spun off in December as a separate publicly traded company from Plains Resources.
Formerly named Middle Bay Oil, 3TEC has been looking for a buyer for about three years since the company went through a financial restructuring and Floyd Wilson took over as chief executive, said Ron Mills, analyst with Johnson Rice & Co. in New Orleans.
"Floyd Wilson's MO is to be a buyer...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
