Concho

Concho’s Permian Costs Decline 27%, Production Lower Too

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…

October 28, 2020

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%.

October 30, 2019

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.

September 3, 2019
Concho Raises Permian Growth Outlook, Eyes More Acreage Trades

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.

May 2, 2019
Concho, Frontier Midstream Target Moving More Oil Volumes from Permian Midland

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.

April 15, 2019
Permian Pure-Play Concho Pulling Back Spending, Still Growing Production

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).

February 20, 2019

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.

January 4, 2019
Concho Sharply Raising 2019 Permian Spend to $3.5B

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.

October 31, 2018

Permian Pure-Play Concho Lifts Full-Year Guidance as Oil Volumes Surge

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.

May 3, 2018
Permian Dealmaking Leads 1Q Worldwide Transactions, Led by Concho-RSP Merger

Permian Dealmaking Leads 1Q Worldwide Transactions, Led by Concho-RSP Merger

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.

April 4, 2018
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