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July 31, 2019 / 8:52 PM / a year ago. ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources for $9.7 billion, as the energy sector continued to consolidate amid lower fuel prices and demand. 09/24: CONCHO RESOURCES … Concho’s shares were little changed at $49 at 7:23 a.m. in pre-market trading in New York, as were Conoco’s at $33.80. Layoffs: Downsizing related discussion, postings, questions and answers. The deal values Concho at $49.30 per share, 1.4% above Friday's close, and continues a trend of all-stock, low premium combinations, including the WPX Energy-Devon merger and Chevron's purchase of Noble Energy. Its second-quarter loss was $435 million, wider than a loss of $97 million a year earlier. ConocoPhillips will buy Permian-focused driller Concho Resources for $9.7 billion, the largest shale deal this year. ConocoPhillips buys Concho Resources for $9.7 billion in stock, ConocoPhillips CEO on how $9.7 billion Concho deal could help further ESG strategy. ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of both firms having approved the combination. Wir und unsere Partner nutzen Cookies und ähnliche Technik, um Daten auf Ihrem Gerät zu speichern und/oder darauf zuzugreifen, für folgende Zwecke: um personalisierte Werbung und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr über die Zielgruppe zu erfahren sowie für die Entwicklung von Produkten. We are working today to deliver a better tomorrow for our shareholders, people and communities. A high-level overview of Concho Resources Inc. (CXO) stock. Midland’s Concho Resources has served as a bellwether for the Permian Basin’s shale oil boom in recent years with the most rigs drilling and an aggressive growth strategy. Concho Resources (NYSE: CXO) is one of the largest unconventional shale producers in the Permian Basin, with operations focused on safely and efficiently developing oil and natural gas resources. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. The combined company will hold about 23 billion barrels of oil equivalent resources with an average cost of supply of below $30 per barrel of U.S. West Texas Intermediate crude, Conoco said. The company is engaged in the acquisition, development and exploration of oil and natural gas assets. ConocoPhillips acquires Concho Resources Save to read list Published by Elizabeth Corner , Editor World Pipelines , Monday, 18 January 2021 08:54 Midland’s Concho Resources has served as a bellwether for the Permian Basin’s shale oil boom in recent years with the most rigs drilling and an aggressive growth strategy. Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. The purchase would propel ConocoPhillips to the ranks of the top producers in the Permian Basin, the prime U.S. oilfield that stretches from West Texas to southeastern New Mexico. We cover the latest Concho Resources headlines and breaking news impacting Concho Resources stock performance. ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources for $9.7 billion, as the energy sector continued to consolidate amid lower fuel prices and demand. Concho Resources Inc. had a pretty Dodgy run when it comes to the market performance. Dies geschieht in Ihren Datenschutzeinstellungen. The company’s stock price has collected -8.86% of loss in the last five trading sessions. Get this delivered to your inbox, and more info about our products and services. Concho Resources focuses on the Permian Basin of Southeast New Mexico and West Texas. Company profile page for Concho Resources Inc including stock price, company news, press releases, executives, board members, and contact information Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. Concho Resources Inc. About Concho Resources. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. All Rights Reserved. The sector has been consolidating after many shale producers borrowed in a bet on higher prices. Get today's Concho Resources stock news. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. ConocoPhillips Concho Resources Houston Chronicle Oil & Gas ConocoPhillips has completed its acquisition of Concho Resources following approval by shareholders of … Most relevant news about CONCHO RESOURCES INC. 10/02: CONCHO RESOURCES: Schedules Third-Quarter 2020 Results Conference Call for Thur.. PU. NEW YORK -- ConocoPhillips is buying shale producer Concho Resources in an all-stock deal valued at $9.7 billion, making it a major presence in … Related News /// Deep Casing Tools secures new investment to … Together, the two companies have a combined value of about $60 billion. Joint Venture to Build Beta Crude Connector System in Midland Basin Concho Resources Inc. (NYSE: CXO) (“Concho”) and Frontier Midstream Solutions IV, LLC (“Frontier”) announced today that Concho and Frontier have executed an agreement to create Beta Crude Connector, LLC (“BCC”). Concho Resources Inc. (NYSE:CXO) went down by -3.07% from its latest closing price compared to the recent 1-year high of $93.34. Concho Resources is looking better than ever heading into 2020.The company has pulled off a cash flow turnaround by reporting excess cash for the … Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. We want to hear from you. Get the hottest stocks to … Concho’s 2.4% bonds due 2031 rose as much as 5.8 cents on the dollar to 102.1 cents, the biggest intraday increase on record, according to Trace data compiled by Bloomberg. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark Concho Resources Inc. (CXO) full year performance was -20.83% The institutional investor owned 23,832 shares of the oil and natural gas company’s stock after purchasing an additional 1,857 shares during the period. The low-premium, all-stock deal comes as many U.S. shale companies have been mired in losses due to weak crude prices and, unlike in past downturns, have struggled to raise new capital to restructure heavy debts. The fifth-largest producer by volume in the Permian, Concho pumps about 319,000 bpd, from wells spread across more than half a million acres. © 2021 CNBC LLC. HOUSTON--(BUSINESS WIRE)--Jan 15, 2021--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho… ConocoPhillips has completed its acquisition of Concho Resources. Concho … Business News. 10/02: CONCHO RESOURCES: to Present at the Raymond James North American Equities Confe.. PU. 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