Financial Statements for Plains Exploration & Production Company

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Plains Exploration & Production Company financials

In Millions of USD (except for per share items)	3 months ending 2009-09-30	3 months ending 2009-06-30	3 months ending 2009-03-31	3 months ending 2008-12-31	3 months ending 2008-09-30
Revenue	312.05	278.13	227.88	327.05	710.76
Other Revenue, Total	0.14	0.55	0.63	1.10	8.78
Total Revenue	312.19	278.68	228.51	328.15	719.54
Cost of Revenue, Total	100.08	105.81	115.65	149.78	160.48
Gross Profit	211.96	172.32	112.23	177.28	550.28
Selling/General/Admin. Expenses, Total	39.96	41.11	40.62	41.97	32.63
Research & Development	-	-	-	-	-
Depreciation/Amortization	101.75	90.82	88.11	196.89	139.96
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	1.18	-86.61	10.24	3,634.52	3.14
Other Operating Expenses, Total	-4.40	1.50	4.46	-	0.00
Total Operating Expense	238.58	152.64	259.09	4,023.16	336.21
Operating Income	73.61	126.04	-30.58	-3,695.00	383.33
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	0.00	0.00	0.00	31.03	0.00
Other, Net	0.57	0.90	-0.71	-0.39	-13.84
Income Before Tax	72.62	21.29	34.86	-2,528.50	787.58
Income After Tax	39.33	43.65	5.20	-1,568.66	493.14
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	39.33	43.65	5.20	-1,568.66	493.14
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	39.33	43.65	5.20	-1,568.66	493.14
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	39.33	43.65	5.20	-1,568.66	493.14
Income Available to Common Incl. Extra Items	39.33	43.65	5.20	-1,568.66	493.14
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	0.00	-
Diluted Weighted Average Shares	132.72	118.80	108.22	107.73	109.62
Diluted EPS Excluding Extraordinary Items	0.30	0.37	0.05	-14.56	4.50
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.30	-0.11	0.11	7.18	4.52

In Millions of USD (except for per share items)	12 months ending 2008-12-31	12 months ending 2007-12-31	12 months ending 2006-12-31	12 months ending 2005-12-31
Revenue	2,386.56	1,269.79	1,016.05	940.77
Other Revenue, Total	16.91	3.05	2.46	3.65
Total Revenue	2,403.47	1,272.84	1,018.50	944.42
Cost of Revenue, Total	626.43	413.12	313.12	285.29
Gross Profit	1,760.13	856.67	702.92	655.48
Selling/General/Admin. Expenses, Total	166.34	133.81	132.74	135.09
Research & Development	-	-	-	-
Depreciation/Amortization	608.45	306.28	207.17	180.34
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	3,647.92	0.00	-975.83	0.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	5,049.14	853.21	-322.79	600.72
Operating Income	-2,645.67	419.63	1,341.29	343.70
Interest Income(Expense), Net Non-Operating	-12.57	6.32	5.50	3.32
Gain (Loss) on Sale of Assets	65.69	0.00	0.00	-
Other, Net	-	-	-	-
Income Before Tax	-1,153.63	268.50	984.61	-344.87
Income After Tax	-709.09	158.75	599.71	-214.01
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	-709.09	158.75	599.71	-214.01
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-709.09	158.75	597.53	-214.01
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	-709.09	158.75	599.71	-214.01
Income Available to Common Incl. Extra Items	-709.09	158.75	597.53	-214.01
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	-	-	0.00
Diluted Weighted Average Shares	108.83	79.81	78.23	77.73
Diluted EPS Excluding Extraordinary Items	-6.52	1.99	7.67	-2.75
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	14.88	1.99	0.07	-2.75

In Millions of USD (except for per share items)	As of 2009-09-30	As of 2009-06-30	As of 2009-03-31	As of 2008-12-31	As of 2008-09-30
Cash & Equivalents	3.60	455.85	181.52	311.88	2.43
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	3.60	455.85	181.52	311.88	2.43
Accounts Receivable - Trade, Net	159.11	175.88	124.78	175.90	362.01
Receivables - Other	-	-	-	-	-
Total Receivables, Net	159.11	175.88	124.78	175.90	362.01
Total Inventory	20.49	19.72	20.47	23.37	29.64
Prepaid Expenses	29.51	35.77	18.08	19.46	-
Other Current Assets, Total	63.91	138.46	256.17	945.84	110.95
Total Current Assets	276.63	825.67	601.03	1,476.44	505.04
Property/Plant/Equipment, Total - Gross	12,131.73	10,535.87	10,088.89	9,731.20	10,593.87
Goodwill, Net	535.26	535.26	535.26	535.26	535.28
Intangibles, Net	-	-	-	-	-
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	59.99	59.19	70.39	586.81	405.68
Total Assets	7,511.88	6,564.06	5,990.95	7,111.91	10,635.85
Accounts Payable	361.04	350.54	301.19	363.71	381.60
Accrued Expenses	-	-	-	0.00	0.96
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-	-
Other Current liabilities, Total	365.27	313.68	373.46	629.93	541.97
Total Current Liabilities	726.31	664.22	674.65	993.64	924.54
Long Term Debt	2,493.58	2,024.13	1,837.28	2,805.00	3,534.13
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	2,493.58	2,024.13	1,837.28	2,805.00	3,534.13
Total Debt	2,493.58	2,024.13	1,837.28	2,805.00	3,534.13
Deferred Income Tax	926.12	955.12	882.75	744.46	1,931.82
Minority Interest	-	-	-	-	-
Other Liabilities, Total	204.03	211.55	194.36	191.53	308.57
Total Liabilities	4,350.05	3,855.03	3,589.04	4,734.64	6,699.07
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	1.44	1.27	1.13	1.13	1.13
Additional Paid-In Capital	3,400.56	2,987.76	2,728.92	2,739.62	2,729.07
Retained Earnings (Accumulated Deficit)	3.07	-36.25	-79.90	-85.10	1,483.56
Treasury Stock - Common	-243.24	-243.75	-247.56	-277.69	-278.46
Other Equity, Total	0.00	0.00	-0.68	-0.68	1.50
Total Equity	3,161.83	2,709.03	2,401.91	2,377.28	3,936.79
Total Liabilities & Shareholders' Equity	7,511.88	6,564.06	5,990.95	7,111.91	10,635.85
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	139.20	122.01	108.14	107.59	107.58

In Millions of USD (except for per share items)	9 months ending 2009-09-30	6 months ending 2009-06-30	3 months ending 2009-03-31	12 months ending 2008-12-31
Net Income/Starting Line	88.17	48.85	5.20	-709.09
Depreciation/Depletion	280.69	178.94	91.64	621.48
Amortization	-	-	-	-
Deferred Taxes	6.84	-4.76	-26.13	-675.35
Non-Cash Items	75.02	55.05	26.57	3,639.18
Changes in Working Capital	-140.83	-136.39	-126.63	-1,504.81
Cash from Operating Activities	309.89	141.69	-29.35	1,371.41
Capital Expenditures	-2,392.01	-826.96	-422.17	-3,167.28
Other Investing Cash Flow Items, Total	1,457.39	1,370.96	1,294.16	2,939.49
Cash from Investing Activities	-934.61	544.00	871.99	-227.79
Financing Cash Flow Items	-18.02	-10.69	-5.15	-53.00
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	648.03	250.87	0.00	-304.19
Issuance (Retirement) of Debt, Net	-313.56	-781.90	-967.84	-500.00
Cash from Financing Activities	316.45	-541.72	-972.99	-857.19
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-308.27	143.97	-130.35	286.43
Cash Interest Paid, Supplemental	-	-	-	117.28
Cash Taxes Paid, Supplemental	-	-	-	145.67

In Millions of USD (except for per share items)	12 months ending 2008-12-31	12 months ending 2007-12-31	12 months ending 2006-12-31	12 months ending 2005-12-31
Net Income/Starting Line	-709.09	158.75	597.53	-214.01
Depreciation/Depletion	621.48	316.08	216.78	187.91
Amortization	-	-	-	-
Deferred Taxes	-675.35	114.42	242.52	-130.63
Non-Cash Items	3,639.18	44.40	-934.02	814.78
Changes in Working Capital	-1,504.81	-45.55	552.17	-194.72
Cash from Operating Activities	1,371.41	588.11	674.98	463.33
Capital Expenditures	-3,167.28	-1,786.15	-645.25	-514.87
Other Investing Cash Flow Items, Total	2,939.49	-456.98	1,457.25	346.45
Cash from Investing Activities	-227.79	-2,243.14	812.00	-168.42
Financing Cash Flow Items	-53.00	-50.52	-627.83	-456.91
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-304.19	-47.48	-298.44	0.00
Issuance (Retirement) of Debt, Net	-500.00	1,777.57	-561.36	162.00
Cash from Financing Activities	-857.19	1,679.57	-1,487.63	-294.91
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	286.43	24.55	-0.65	0.01
Cash Interest Paid, Supplemental	117.28	44.19	72.05	51.11
Cash Taxes Paid, Supplemental	145.67	118.88	44.86	2.14