Permian Basin heavyweight Concho Resources Inc., now in a quiet period as the mega-merger with ConocoPhillips is readied, said its oil and gas production, along with profits, declined in the third quarter. Earlier this month, Houston-based ConocoPhillips clinched an all-stock takeover of Concho worth $9.7 billion. The Midland, TX-based independent is the fifth-largest producer in…
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Permian Basin pure-play Concho Resources Inc. exceeded the high end of its production guidance during the third quarter and reduced overall controllable cash costs by 3%.
Permian Basin pure-play Concho Resources Inc. is tightening up after agreeing to sell its New Mexico Shelf properties to recently formed Spur Energy Partners LLC for $925 million.
Permian Basin pure-play Concho Resources Inc. bumped up its growth outlook for production in 2019, but it kept its spending plans unchanged as it completed several major projects ahead of schedule.
Permian Basin pure-play Concho Resources Inc. and Frontier Midstreams Solutions IV LLC have partnered to build a crude gathering, transportation and storage system in the northern part of the Midland sub-basin to support growth in the region.
Permian pure-play Concho Resources Inc., one of the largest operators in the basin, is pulling back the reins on capital spending in 2019, but it still plans to boost oil production and grow free cash flow (FCF).
Midland, TX-based independent Concho Resources Inc., one of the largest oil and natural gas producers in the Permian Basin, has reconfigured its management team through a series of promotions as it gears up to expand operations this year.
Despite takeaway constraints in the Permian Basin, Concho Resources Inc. unveiled a capital program of $3.5 billion at the midpoint for 2019, up from $2.55 billion this year, with most of spend devoted to large-scale projects and a 25% exit rate increase in crude oil production.
Concho Resources Inc., on its way to becoming one of the largest Permian Basin pure-plays, has raised its full-year production growth outlook to 18-20% after increasing crude oil production volumes in the first quarter by 11% sequentially.
Supported by U.S. dealmaking in the Permian Basin, global upstream transactions hit $32 billion in the first quarter, according to oil and gas information provider 1Derrick.