Event-Driven Stocks

PLAINS EXPLORATION & PRODUCTION CO

Completed

Spin-offSpun off from Plains Resources

The two companies

Parent
Plains Resources
Wholesale-Petroleum & Petroleum Products (No Bulk Stations)
Company hub →SEC filings ↗
↓ spun off ↓
Spin-off
PLAINS EXPLORATION & PRODUCTION CO
Energy
Company hub →SEC filings ↗

Open either company's hub for its full SEC financials, ratios, ownership, filings, and every other event it's been part of.

Sector
Energy
Industry
Crude Petroleum & Natural Gas
Exchange
—
State of incorporation
DE
Record date
—
Distribution date
—
Ratio
1:1
Parent sector
Wholesale-Petroleum & Petroleum Products (No Bulk Stations)
Form
10-12B/A
Filed
December 6, 2002

Financials — parent vs spin-off

SEC XBRL · latest year
Plains Resources

No XBRL financials available.

PLAINS EXPLORATION & PRODUCTION COFY12
Revenue
$524M
Operating income
$171M
Net income
$343M
Total assets
$17.30B
Equity
$3.52B

Latest reported figures from each company's own SEC filings — the parent after the separation and the spin-off as a standalone. Full multi-year history on each company hub.

Spin-off signals

score 2/6 favorable · factors, not advice
  • Focus-increasingYes — Industrials → Energy

    Spin-offs into a different sector than the parent (pure-plays) have historically outperformed diversifying ones.

  • Return on capital employed1.0%

    EBIT ÷ capital employed — the quality metric the spin-off scorecard research weighs most.

  • Operating margin33%

    Profitability of the standalone business, from its own SEC filings.

  • Tax-basis reportNone found

    A Form 8937 (basis allocation) accompanies tax-free §355 spin-offs — favorable for taxable holders.

  • Insider buying (post-spin)None recorded

    Officers/directors buying their own newly independent shares (Form 4) has historically preceded outperformance.

  • Time since spin-off23.5 years

    Studies find the spin-off return premium concentrates in roughly the first one to three years.

Factors the spin-off research literature (Greenblatt; Cusatis-Miles-Woolridge; Desai-Jain) associates with outcomes — computed from this company's own SEC filings, shown as factors, not a recommendation. The premium is debated and not guaranteed. How we compute these ↗

Filings & documents

Every entry traces to SEC EDGAR. The Information Statement is the primary source; the links below open the full filing and each company's complete filing history.

Information Statement ↗10-12B/A · the filing we parseAll documents in this filing ↗accession 0000899243-02-003112PLAINS EXPLORATION & PRODUCTION CO — all SEC filings ↗EDGAR company pagePlains Resources — 8-K announcements ↗where the spin-off was announcedPlains Resources — all SEC filings ↗parent EDGAR company page

Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.