Company News - Plains Exploration to acquire Nuevo Energy

Plains Exploration & Production Co. has agreed to acquire Houston rival Nuevo Energy Co. in a stock transaction valued at $945 million. Upon closing, Nuevo stockholders will own 47%, and Plains Exploration stockholders will own 53% of the combined company.In other upstream news:BG Group has agreed to acquire El Paso Oil & Gas Canada Inc. for $345.6 million from El Paso Corp., Houston.Several principals of the former Matador Petroleum Corp.— including founder Joseph Foran—have formed Matador Resources Co., a privately held Dallas-based independent focused on the southwestern US. (See Personnel Moves and Promotions, p. 34)In downstream and midstream news:Valero Energy Corp., San...

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