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Pogo Producing PPP (news,
chart,
quote) - PPP volatility Flat into PXP expected close of PPP purchase
PPP is engaged in oil and gas exploration, development, acquisition and production activities. PXP is in the process of acquiring PPP. PPP stockholders will receive 0.68201 shares of PXP and $24.88 of cash for each share of PPP. PXP is expected to close on the purchase of PPP before year end. PPP over all option implied volatility of 27 is near its 26-week average according to Track Data, suggesting non-directional price risks.
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