PXP, Enviro Groups Rework Offshore Oil Drilling Pact

Law360, New York (April 8, 2010, 6:44 PM EDT) -- In a second try at a workable deal, Plains Exploration & Production Co. has reached an agreement with several environmental groups that pave the way for the energy company to expand drilling off the coast of California in return for setting definite end dates for its offshore oil production.

In what would be the first new oil drilling off California's coast in 40 years, the revised plan would allow Houston-based PXP to open up the Tranquillon Ridge project, drilling new shafts into state waters from an...
To view the full article, register now.