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Concho Resources, Inc.

Company Summary

Description

Concho is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. At year-end 2015, Concho owned interests in more than 7,600 producing wells and had proved reserves of 623.5 million barrels of oil equivalent, of which 59% was oil.

Website

http://www.concho.com

Operational Regions

  • Permian Basin
  • New Mexico Shelf
  • Delaware Basin
  • Midland Basin
  • Bone Spring Sands
  • Avalon Shale
  • Wolfcamp
  • Spraberry Trend

Financial Data:

NYSE:CXO from Google Finance

Tickers:

  • CXO - New York Stock Exchange

Related Entities

Recent news

  • 2/23/2022 - ConocoPhillips and... (subscriber access)
  • 3/31/2021 - ConocoPhillips... (subscriber access)
  • 2/2/2021 - ConocoPhillips Issues... (subscriber access)
  • 10/28/2020 - Concho Reports 3Q20... (subscriber access)
  • 10/28/2020 - Concho Reports 3Q20... (subscriber access)

Investor Presentations

  • 2Q20 Investor Presentation
  • 1Q20 Earnings Presentation (subscriber access)
  • 4Q19 Investor Presentation (subscriber access)
  • 3Q19 Investor Presentation (subscriber access)
  • 2Q19 Investor Presentation (subscriber access)
  • 4Q18 Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 Investor Presentation (subscriber access)
  • Concho Acquires RSP Permian (subscriber access)
  • Fourth Quarter 2017 Earnings Slides (subscriber access)
  • Western Gas Announces Third-Quarter 2017 Results (subscriber access)
  • 2Q17 Earnings Presentation (subscriber access)
  • 1Q17 Earnings Presentation (subscriber access)
  • 4Q16 Earnings Presentation (subscriber access)
  • December 2016 Investor Presentation (subscriber access)
  • Concho Resources Acquires Northern Delaware Basin Assets (subscriber access)
  • September 2016 Investor Presentation (subscriber access)
  • 2Q16 Investor Presentation (subscriber access)
  • 1Q16 Earnings Presentation (subscriber access)
  • 4Q15 Earnings Presentation (subscriber access)

Company Transactions

Date: 3/31/2021
Type: Acquisition

DETAILS:

COST: 9.7 $B

VOLUMES: 319 MBOE/d

ACRES: 800000 Acres

NOTES:
ConocoPhillips has entered into a deal to acquire Concho Resources via an all-stock transaction valued at $9.7 billion. Each share of Concho stock will be exchanged for 1.46 shares of ConocoPhillips common stock, which marks a 15% premium to Concho's closing price on October 13, 2020. The combined firm will see COP retain 79% ownership and Concho shareholders 21%.
REGIONS:
  • Permian Basin
  • Date: 11/30/2019
    Type: Acquisition

    DETAILS:

    COST: 925 $MM

    VOLUMES: 25 MBOE/d

    ACRES: 100000 Acres

    NOTES:
    Concho Resources entered into a definitive agreement to sell its assets in the New Mexico Shelf to an affiliate of Spur Energy Partners for $925 million. The sale includes roughly 100,000 gross acres and production of roughly 25 Mboe/d.
    REGIONS:
  • Northwest Shelf (U.S.)
  • Date: 6/30/2019
    Type: Acquisition

    NOTES:
    Affiliates of Quantum Energy Partners, Post Oak Energy Capital, and Concho Resources entered into a binding agreement to sell substantially all of the assets of Oryx Southern Delaware Holdings to funds managed by Stonepeak Infrastructure Partners for a price of roughly $3.6 billion.
    REGIONS:
  • Delaware Basin
  • Date: 6/30/2019
    Type: Acquisition

    NOTES:
    Orynx Southern Delaware Holdings entered into an agreement to sell 100% of the equity interests in its subsidiaries to Stonepeak Infrastructure Partners for $2.07 billion. Concho Resources owns a 23.75% equity interest in Oryx and will receive roughly $300 million at closing after repayment of Oryx's outstanding borrowings. The transaction is anticipated to close in 2Q19.

    Date: 7/19/2018
    Type: Acquisition

    DETAILS:

    COST: 9.5 $B

    VOLUMES: 55.5

    ACRES: 92000

    NOTES:
    Concho Resources is acquiring RSP Permian via an all-stock deal valued at $9.5 billion, including the assumption of RSP debts totaling $1.5 billion. Each holder of RSP Permian stock will receive 0.32 shares of Concho common stock as part of the deal.
    REGIONS:
  • Permian Basin
  • Date: 2/21/2018
    Type: Acquisition

    DETAILS:

    COST: 280 $MM

    ACRES: 20000 Acres

    NOTES:
    Concho has closed on the sale of 40,000 gross (20,000 net) acres of non-core leasehold in Ward and Reeves Counties, Texas.
    REGIONS:
  • Permian Basin
  • Date: 1/3/2018
    Type: Acquisition

    NOTES:
    The deal included three disposal wells with a 45 Mbbl/d capacity and 44-miles of water pipelines.
    REGIONS:
  • Delaware Basin
  • Date: 7/31/2017
    Type: Acquisition

    DETAILS:

    COST: 600 $MM

    VOLUMES: 3 MBOE/d

    ACRES: 12400 Acres

    REGIONS:
  • Midland Basin
  • Date: 11/21/2016
    Type: Acquisition

    DETAILS:

    COST: 430 $MM

    VOLUMES: 2.5 MBOE/d

    ACRES: 16400 Acres

    NOTES:
    Concho reached an agreement to acquire 24,000 gross (16,400 net) acres in the Delaware Basin. 12,000 gross acres located in the Red Hills area, complementary to its current leasehold position in the northern Delaware Basin.
    REGIONS:
  • Delaware Basin
  • Date: 10/4/2016
    Type: Acquisition

    DETAILS:

    COST: 1.625 $B

    VOLUMES: 10 MBOE/d

    ACRES: 40000 Acres

    NOTES:
    The acquisition includes 10 Mboe/d of current production from 326 vertical wells and 44 horizontal wells and approx. 530 new drilling locations in the play.
    REGIONS:
  • Permian Basin
  • Lower Spraberry
  • Spraberry Trend
  • Wolfcamp