Concho Resources – Oil & Gas 360

ConocoPhillips reports fouer and full-year 2020 results; announces quarterly dividend- oil and gas 360

ConocoPhillips reports fourth-quarter and full-year 2020 results; announces quarterly dividend

February 2, 2021

Oil and Gas 360 The 2020 results discussed herein reflect the performance of ConocoPhillips prior to the acquisition of Concho, which closed in January 2021. ConocoPhillips (NYSE: COP) today reported a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per share, compared with fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share. Excluding special items, fourth-quarter 2020 adjusted earnings

Hess, Concho, Callon join Exxon in tightening budget amid oil crash

March 17, 2020

Reuters U.S. producers Hess Corp, Concho Resources Inc and Callon Petroleum Co on Tuesday followed oil major Exxon Mobil Corp in cutting their spending for the year, as oil prices continued to trade below $30 a barrel. Oil producers are trying to shore up cash as a double-whammy from the Saudi-Russia price war and dwindling demand because of the coronavirus

Concho aims to right the ship after disastrous previous results

October 30, 2019

Houston Chronicle Midland’s Concho Resources reported a rising profit and increased oil production for the third quarter, helping to right the ship after disastrous results earlier this year. Fairly or not, Concho was pegged as a poster child for weakening returns in the booming Permian Basin after its so-called Dominator project spaced 23 wells too closely together and led to disappointing production results. Concho’s stock

Investors brace for poor U.S. shale earnings amid weak oil and gas prices

October 28, 2019

Source: Reuters (Reuters) – Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations. Major shale producers ConocoPhillips (COP.N) and Concho Resources (CXO.N) this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

August 28, 2019

From Bloomberg Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, he’s making his biggest bet yet — Alaska — just as shale producers run out of steam. Hildebrand’s Hilcorp Energy

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

August 21, 2019

From Reuters In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow. School officials had expected enrollment to fall after the last oil price crash, starting in 2014, but it kept rising – one sign of

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

August 5, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 SCM Crude LLC to solicit binding commitments for interstate gathering and transportation SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority crude oil interstate gathering and transportation services as part of an open season for its Delaware Basin midstream infrastructure. The

Concho Resources and Solaris Water Form JV in the Delaware Basin

August 1, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Concho Resources and Solaris Water Midstream team up for produced water management in the northern Delaware Basin Concho Resources (stock ticker: CXO), a Permian-focused unconventional shale producer, has formed a strategic joint venture (JV) with Solaris Water Midstream, a wholly-owned subsidiary of Solaris Midstream Holdings LLC. The partnership between the two

Shale M&A: We Are “Always Available” – Concho

May 1, 2019

“We’re always available for someone to acquire some ownership if they would like” By Richard Rostad, analyst, Oil & Gas 360 Concho Resources (ticker: CXO) announced first quarter results today, showing a net loss of $695 million, or ($3.49) per share. Like many other companies in this quarter, Concho saw major derivative losses in the quarter. If these are excluded,

Permian Basin: Stonepeak Buys Oryx Midstream for $3.6 Billion Cash - Oryx Midstream pipe and storage - Permian Basin - Oil & Gas 360

New Permian Deal: Stonepeak Buys Oryx Midstream for $3.6 Billion Cash

April 2, 2019

Permian Basin E&Ps WPX, Concho to cash in on transaction Oryx plans to “aggressively grow our footprint in the Permian Basin” “Oryx is the most attractive private Permian midstream asset Stonepeak has evaluated” Affiliates of Quantum Energy Partners, Post Oak Energy Capital, Concho Resources (stock ticker: CXO, $CXO), WPX Energy (stock ticker: WPX, $WPX) and other investors announced today that

Permian Heavyweights Talk Use of Free Cash, To M&A or Not To M&A, Permian Consolidation

February 20, 2019

By Richard Rostad, analyst, Oil & Gas 360 Concho Resources (ticker: CXO) and Diamondback Energy (ticker: FANG) held year-end conference calls today, offering analysts the chance to discuss several major topics with two of the largest Permian operators. Free cash Q: Any way you could give us a sense of your thoughts on–call it between $50 to $60 per barrel

Concho Resources Mourns Passing of Board Member

February 4, 2019

Concho Resources Inc. Mourns Passing of Board Member Ray Poage

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