Operational Updates
Plains Exploration Provides Eagle ford, Granite Wash and Haynesville Update
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Plains Exploration & Production (PXP) announced 2011 second-quarter financial and operating results.
Revenues of $514.8 million and net income of $124.9 million, or $0.87 per diluted share. Adjusted net income of $77.1 million, or $0.54 per diluted share (a non-GAAP measure). Income from operations of $186.1 million. Net cash provided by operating activities of $287.5 million. Operating cash flow of $299.6 million (a non-GAAP measure). Average daily sales volumes of approximately 97.7 thousand barrels of oil equivalent (BOE), a 15% increase compared to second-quarter 2010 or 27% increase pro-forma for the 2010 asset sale. Average daily liquids sales volumes increased 7% compared to second-quarter 2010 or 12% pro-forma for the 2010 asset sale and are expected to increase ratably…- ✓ Full news archive — U.S., Canada & international coverage
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