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
RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017. Drilling The company operated seven horizontal rigs and three full-time completion crews during the first quarter of 2018 (third crew added in late
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
RSP Permian does not expect to receive any proceeds from the offering RSP Permian, Inc. (Ticker: RSPP) announced Thursday that the company had underwritten a public offering of 15,000,000 shares of its common stock by Silver Hill Energy Partners Holdings, LLC and Silver Hill Energy Partners II, LLC (collectively, the “Selling Stockholders”). The Selling Stockholders have granted the underwriter a 30-day option
RSP snags 15 MBOEPD of Permian Basin production RSP Permian (ticker: RSPP) today announced it has entered into definitive agreements to acquire Silver Hill Energy Partners, LLC (“SHEP I”) and Silver Hill E&P II, LLC (“SHEP II,” and together with SHEP I, “Silver Hill”) for $1.25 billion of cash and 31.0 million shares of RSP common stock in aggregate, implying a total purchase
RSP Permian (ticker: RSPP), a Permian pure-play with more than 47,000 acres in West Texas, has signed a letter of intent to increase its footprint by about 4,100 net acres for an aggregate purchase price of $137 million. The agreement, made on October 7, 2015, is expected to close in Q4’15 and is part of a privately negotiated agreement with
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