Concho Resources Inc. reported record production from the core Permian Basin during the third quarter, thanks to improved efficiencies through enhanced completions and longer laterals, as it continues to trim its rig count. Meanwhile, the Midland, TX-based independent is reportedly seeking to acquire one of its basin rivals.
Concho
Articles from Concho
Permian Pure-Play Concho Cuts 2015 Spending by One-Third
Midland, TX-based Concho Resources Inc. (CXO) cut its 2015 capital spending plans to $2 billion from $3 billion due to low commodity prices and projected 16-20% year-over-year production growth. Analysts following the company gave the news a thumbs-up and praised the Permian Basin producer for its “capital discipline.”
January 6, 2015
Concho Taking Basis by the Horns in Permian Midstream Buildout
Permian Basin crude oil pricing increasingly is impacted as bottlenecks develop, but Concho Resources Inc. isn’t waiting around for someone else to expand the midstream systems, CEO Tim Leach said on Thursday.
August 8, 2014
Concho, Mexco Plying Bone Spring Together
Mexco Energy Corp. and Concho Resources Inc. have struck an agreement to develop the Bone Spring formation with horizontal drilling and multistage hydraulic fracturing (fracking).
September 24, 2013
Linn Energy Picking Up Granite Wash Assets
Linn Energy LLC has agreed to acquire Midcontinent oil and gas properties primarily in the Granite Wash of Texas and Oklahoma from Plains Exploration & Production Co. (PXP) for $600 million.
November 8, 2011
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