3TEC Energy Corporation

In February 2003, 3TEC Energy Corporation entered into a definitive agreement with Plains Exploration & Production Company (Plains) whereby Plains would acquire 3TEC for a combination of cash and stock. Under the terms of the agreement, 3TEC's shareholders would receive $8.50 in cash and 0.85 shares of Plains' common stock for each share of its common stock. Pursuant to the completion of the agreement, 3TEC stockholders would own approximately 40% of the combined company and Plains stockholders would own approximately 60% of the combined company. 3TEC Energy Corporation engages in the acquisition, development, production, and exploration of oil and natural gas reserves. Its properties are concentrated in east Texas and the Gulf Coast region, both onshore and in the shallow waters of the Gulf of Mexico. As of December 31, 2002, the company had estimated total net proven reserves of 296 billion cubic feet of natural gas equivalent, of which approximately 87% were natural gas and 81% were proven developed; and operated approximately 321 wells. Additionally, 3TEC Energy owns a royalty interest in 184 wells and an overriding royalty interest in 876 wells. Its natural gas and oil are purchased by marketing companies, pipelines, major oil companies, public utilities, industrial customers, and other users and processors of petroleum products.

• Latest SEC Filings

External Links

• 3 Tech Energy Corporation Merger with Plains Exploration and Production Company 2003
• SEC 15-12G Securities Registration Termination 2003