After spending much of the past year at a four-star rank, Plains Exploration & Production
With Plains' recent big discoveries and partnerships in play with other strong industry players, more CAPS members are seeing improved prospects for good returns from the company. Plains reported that it returned to the black in the fourth quarter, with revenue increasing 12%, and it sees potential for some of its projects to provide significant future production and reserve growth. The company also laid out the goal of doubling its production and reserves by 2014.
Some recent discoveries made with partners in the Gulf of Mexico also have investors more bullish. The Davy Jones prospect, in conjunction with partners McMoRan Exploration
Do you think Plains Exploration & Production deserves its improved status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company and check out all the information and opinions the community offers, absolutely free.
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Fool contributor Dave Mock has upgraded his canasta aptitude from a tough challenge to a nemesis to be feared. He owns no shares of companies mentioned here. Chesapeake Energy is an Inside Value pick. The Fool owns shares of Chesapeake Energy. The Fool's disclosure policy still hasn't washed the cheek kissed by Davy Jones.