Latham Guides PXP's $450M Alliance With EIG Energy

Law360, New York (October 28, 2011, 2:20 PM EDT) -- Private energy investor EIG Global Energy Partners LLC has pumped $450 million into Plains Exploration & Production Co. for a 20 percent stake of the oil and gas company’s subsidiary devoted to developing projects in the Gulf of Mexico, PXP announced Friday.

EIG’s $450 million investment gives it a 20 percent interest in PXP’s Plains Offshore Operations Inc., a unit that holds all of the company’s Gulf of Mexico assets and now has the funding to develop two offshore projects, according to the PXP statement....
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