Recently, Plains Exploration announced a big deal to acquire Gulf of Mexico assets from BP and Shell. The stock opened sharply down after the deal was announced and stayed there. Many investors are worried that the company overpaid for the acquisition and that offshore drilling will make up too much of the company's asset base. While the purchase price looks decent, it does imply future growth potential of the assets. Watch the following video to get Paul and Matt's full take on the acquisition.
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Matthew Argersinger, Paul Chi, and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.