Now, people living near the Inglewood oil fields are protesting PXP's plan to increase production.
In July Toyota unveiled a concept bicycle, the PXP, with a thought-controlled gear-shift mechanism.
Below is a three month price history chart comparing the stock performance of PXP vs.
Below is a three month price history chart comparing the stock performance of BP, versus SM and PXP.
As an American and as an investor in EXXI and MMR and PXP, I hope he is right.
Below is a three month price history chart comparing the stock performance of PXP, versus XCO and SD.
At the closing bell, PXP is off about 0.9%, while XRAY is off about 0.3% on the day Friday.
Overall, more than 23, 000 call contracts changed hands on PXP yesterday, outpacing the roughly 13, 300 puts that crossed the tape.
FORBES: Plains Exploration & Production's Rebound Sparks Unusual Bull Debit Spread
Plains Petroleum ( PXP - news - people ) at 27.7%, EXXI at 15.8%, and Nippon Oil Exploration USA with 12%.
Beyond JPMorgan Chase and Bank of America, PXP will be getting financing from BMO Capital Markets, Barclays, Citigroup, Royal Bank of Canada, and the Bank of Nova Scotia.
FORBES: Plains Levers Up To Buy BP Gulf Assets: Borrows More Than Its Market Capitalization
In the Sept. 2 issue of his newsletter, Way reports that PXP has five times more upside return potential than downside risk, tops among the exploration and production stocks.
Energy XXI (Nasdaq: EXXI, up 30% this morning) holds a 16% interest in the well, Plains has 28% (NYSE: PXP, up 5%), while McMoran (NYSE: MMR, up 40%) operates with 33%.
In a high-risk move, Plains Exploration (PXP) is levering up big time in order to acquire wells in the Gulf of Mexico from the BP and Royal Dutch Shell.
FORBES: Plains Levers Up To Buy BP Gulf Assets: Borrows More Than Its Market Capitalization
Two years ago, residents in nearby Culver City evacuated their homes one night after a mysterious gas leak, prompting PXP to voluntarily shut down its operations until the county finishes an environmental review.
Interestingly, PXP is engaging in a leveraged-buyout-like operation.
FORBES: Plains Levers Up To Buy BP Gulf Assets: Borrows More Than Its Market Capitalization
As executive director of Community Health Councils, she and hundreds of residents are asking for more environmental reviews and safeguards before PXP gets the green light to expand to as many as 1, 000 new wells.
"What were saying is, look, we need to operate harmoniously with our neighbors and we're willing to subject ourselves to more regulations, whether we like it or whether we agree with it or not, " PXP Vice President Steve Rausch said.
Freeport CEO Jim Bob Moffett owns shares in all three companies and critics of the deal say that he took care of himself but overpaid for MMR and PXP, which will provide Freeport with exposure to deep wells in the Gulf of Mexico.
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