Plains Exploration & Production is an independent oil and gas company primarily engaged in the activities of acquiring, developing, exploiting, exploring and producing oil and gas properties in the United States. The company owns oil and gas properties in more than five states with principal operations the Los Angeles, Texas and Louisiana. The company s assets include mature properties with long-lived reserves and significant development and exploitation opportunities, as well as newer properties with development, exploitation and exploration potential. Plains Exploration & Production is headquartered in Houston.