PLAINS EXPLORATION & PRODUCTION COMPANY
CONDENSED CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2010
(in thousands of dollars)
Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
Intercompany
Eliminations Consolidated
ASSETS
Current Assets
Cash and cash equivalents . . . . . . . . . . . $ 6,020 $
8 $
406 $
- $ 6,434
Accounts receivable and other current
assets . . . . . . . . . . . . . . . . . . . . . . . . . . .
261,005
133,761
1,687
-
396,453
267,025
133,769
2,093
-
402,887
Property and Equipment, at cost
Oil and natural gas properties - full cost
method . . . . . . . . . . . . . . . . . . . . . . . . . .
3,403,728
8,721,483
1,154,399
-
13,279,610
Other property and equipment . . . . . . . . .
49,110
41,736
46,304
-
137,150
3,452,838
8,763,219
1,200,703
-
13,416,760
Less allowance for depreciation,
depletion, amortization and
impairment . . . . . . . . . . . . . . . . . . . . . . .
(2,139,800)
(5,769,846)
(563,685)
2,277,323
(6,196,008)
1,313,038
2,993,373
637,018
2,277,323
7,220,752
Investment in and Advances to
Affiliates
. . . . . . . . . . . . . . . . . . . . . . . . . .
5,024,555
(1,562,441)
(66,116)
(3,395,998)
-
Other Assets
. . . . . . . . . . . . . . . . . . . . . . . .
726,277
545,021
-
-
1,271,298
$ 7,330,895 $ 2,109,722 $ 572,995 $ (1,118,675) $ 8,894,937
LIABILITIES AND EQUITY
Current Liabilities
. . . . . . . . . . . . . . . . . . . . $ 361,282 $ 147,246 $ 25,161 $
- $ 533,689
Long-Term Debt
. . . . . . . . . . . . . . . . . . . . .
3,344,717
-
-
-
3,344,717
Other Long-Term Liabilities
. . . . . . . . . . .
214,491
61,761
2,264
-
278,516
Deferred Income Taxes
. . . . . . . . . . . . . . .
27,440
323,829
178,906
824,875
1,355,050
Equity
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,382,965
1,576,886
366,664
(1,943,550)
3,382,965
$ 7,330,895 $ 2,109,722 $ 572,995 $ (1,118,675) $ 8,894,937
F-46