WaterBridge Resources LLC Acquires Southern Delaware Produced Water Assets of Concho Resources Inc. and Commences Long-Term Produced Water Handling Contract
Concho Resources (stock ticker CXO) Chairman and CEO Timothy A. Leach was tapped by U. S. Steel Tubular Products, Inc., a subsidiary of United States Steel Corporation (stock ticker: X), as the recipient of the industry’s Chief Roughneck Award for 2018. The announcement was made at the 89th annual meeting of the Independent Petroleum Association of America (IPAA) this week.
Concho Resources Inc. (NYSE: CXO) announced that it has completed its acquisition of RSP Permian, Inc. (NYSE: RSPP), which now makes Concho the largest unconventional shale producer in the Permian Basin. Under the terms of the merger, each share of RSP common stock was converted into the right to receive 0.320 shares of Concho common stock. As a result, Concho
Producing 228 MBOEPD, Running 20 Rigs Concho Resources Inc. (ticker: CXO) bought home a net income of $835 million, or $5.58 per diluted share for Q1 2018. Last year at this reporting period, Concho had a net income of $650 million, or $4.37 per share. Additionally, the company said it has reduced its total debt by $320 million in Q1
Concho Resources Inc. (ticker: CXO) produced 19 MMBOE in Q4 2017, an average of 211 MBOEPD. This is 28% more than Q4 2016 and 9% more than Q3 2017. Average daily crude oil production for fourth-quarter 2017 totaled 130 MBOPD, an increase of approximately 30% from fourth-quarter 2016 and 9% from third-quarter 2017. Natural gas production for fourth-quarter 2017 totaled
Concho Resources Inc. (Ticker: CXO) announced Thursday that Joe Wright, the company’s Executive Vice President and Chief Operating Officer, has been appointed to the Board of Directors. Wright has announced his intention to retire as an officer of the company in January 2019. Tim Leach, Chairman of the Board and Chief Executive Officer, commented, “Joe has played an instrumental role in building
Concho Resources doubles long-lateral inventory with Red Hills bolt-on Concho Resources Inc. (ticker: CXO) announced Monday that the company has added approximately 24,000 gross (16,400 net) acres to its norther Delaware Basin assets through a $430 million deal with an undisclosed seller. The acquired acreage is producing approximately 2.5 MMBOEPD (69% oil) and doubles the company’s long-lateral drilling inventory in
Increased drilling efficiencies keep Concho Resources’ assets profitable It wasn’t that long ago that oil reached above $50 per barrel. Then the recovery faltered as production reentered the market after the unplanned supply interruptions in Nigeria and Canada had started prices on the upswing. With the price settling in near $40 per barrel, producers are coming to grips with the
Crescent Point will maintain dividend despite 28% CapEx cut Two companies this week, Crescent Point Energy Corp. (ticker: CPG) and Concho Resources Inc. (ticker: CXO), released forward looking statements projecting increased production in 2015, regardless of commodity prices. Crescent Point, which is based in Calgary, Alberta, said in its announcement that the company has set a capital expenditures budget of
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