Top North American natural gas marketers reported stronger overall sales volumes for the second quarter as production gathered momentum in response to strong consumption and prices. A multitude of enduring demand drivers could fuel momentum through this year and into next, marketers and traders say. The 24 gas marketers included in the latest NGI Top…
Concho
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ConocoPhillips Touts Greater Savings in Concho Acquisition, Reduces Cost and Capital Guidance
ConocoPhillips raised expected savings on its 2021 acquisition of Concho Resources Inc. to $1 billion and lifted its planned share buybacks by the same amount, a show of confidence in the deal and the company’s outlook as it emerges from the pandemic. The upbeat tone emerged during a market update Wednesday, during which executives emphasized…
Concho’s Permian Costs Decline 27%, Production Lower Too
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…
Concho ‘Course Corrects’ in Permian as Natural Gas, Oil Output Sharply Higher
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%.
Concho Casting Off Permian New Mexico Shelf to Spur Energy for $925M
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.
Concho Raises Permian Growth Outlook, Eyes More Acreage Trades
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.
Concho, Frontier Midstream Target Moving More Oil Volumes from Permian Midland
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 Pulling Back Spending, Still Growing Production
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).
Concho Adjusts Management as Permian Ops Kick into Higher Gear
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.
Concho Sharply Raising 2019 Permian Spend to $3.5B
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.