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 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. Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. Got a confidential news tip? ConocoPhillips announced in October that it was buying Concho for $9.7 billion. ConocoPhillips acquires Concho Resources Save to read list Published by Elizabeth Corner , Editor World Pipelines , Monday, 18 January 2021 08:54 Concho had $3.9 billion in long-term debt at the end of June, and has not posted an annual profit since 2018. MarketWatch.com reported on 12/11/20 that Concho Resources Inc. stock falls Friday, underperforms market. 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 fifth-largest producer by volume in the Permian, Concho pumps about 319,000 bpd, from wells spread across more than half a million acres. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. We cover the latest Concho Resources headlines and breaking news impacting Concho Resources stock performance. Most relevant news about CONCHO RESOURCES INC. 10/02: CONCHO RESOURCES: Schedules Third-Quarter 2020 Results Conference Call for Thur.. PU. HOUSTON--(BUSINESS WIRE)--Jan 15, 2021--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho… 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 and Frontier will each own a 50% equity interest in BCC, with Frontier serving … We are working today to deliver a better tomorrow for our shareholders, people and communities. ConocoPhillips buys Concho Resources for $9.7 billion in stock, ConocoPhillips CEO on how $9.7 billion Concho deal could help further ESG strategy. Sie können Ihre Einstellungen jederzeit ändern. A high-level overview of Concho Resources Inc. (CXO) stock. aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. The company’s stock price has collected -8.86% of loss in the last five trading sessions. 10/02: CONCHO RESOURCES: to Present at the Raymond James North American Equities Confe.. PU. Business News. The deal is expected to provide $500 million in annual cost and capital savings by 2022. Get the latest Concho Resources Inc. (CXO) stock news and headlines to help you in your trading and investing decisions. ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of … U.S. shale companies have posted big losses due to weak crude prices amid the Covid-19 pandemic and have struggled to raise new capital to restructure debt. Company profile page for Concho Resources Inc including stock price, company news, press releases, executives, board members, and contact information It has scant drilling acreage on federal lands, a plus given Democratic party presidential candidate Joe Biden's proposal to ban new fracking permits on government property, he said. The 1-year high price for the company’s stock is recorded $93.34 on 01/07/20, with the lowest value was $33.13 for the same time period, recorded on 03/18/20. It also would make it the largest U.S. independent, pumping 1.5 million barrels per day (bpd). Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. Concho Resources Inc. to Sell New Mexico Shelf Assets for $925 Million and Initiate $1.5 Billion Share Repurchase Program September 03, 2019 07:30 AM Eastern Daylight Time Concho shareholders will receive 1.46 shares of ConocoPhillips for each share held. Concho … Prices tanked instead, leaving shale investors with little to show for the rising output and companies struggling to pay down debts. Yahoo ist Teil von Verizon Media. Related News /// Deep Casing Tools secures new investment to … 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. ConocoPhillips acquires Concho Resources Save to read list Published by Elizabeth Corner , Editor World Pipelines , Monday, 18 January 2021 08:54 Concho Resources Inc. Get today's Concho Resources stock news. Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' DNB Asset Management AS increased its holdings in Concho Resources Inc. (NYSE:CXO) by 8.5% in the fourth quarter, according to its most recent 13F filing with the SEC. Conoco is a major producer in two other U.S. shale fields, but pumps about 50,000 bpd in the Permian. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark This website provides details about our acquisition of Concho Resources, a transaction that represents a bold step toward a new era of energy leadership through the combination of two best-in-class companies. Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. Dies geschieht in Ihren Datenschutzeinstellungen. 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”). Get Concho Resources Inc (CXO:NYSE) real-time stock quotes, news and financial information from CNBC. 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 … Concho Resources focuses on the Permian Basin of Southeast New Mexico and West Texas. A Division of NBCUniversal. 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. Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. DNB Asset Management AS’s […] 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. 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. ConocoPhillips said the premium was 15% based on Concho's price on Oct. 13, before news reports on the deal talks surfaced. Sign up for free newsletters and get more CNBC delivered to your inbox. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. 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. Concho Resources Inc. had a pretty Dodgy run when it comes to the market performance. 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. 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 … Layoffs: Downsizing related discussion, postings, questions and answers. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark Data is a real-time snapshot *Data is delayed at least 15 minutes. July 31, 2019 / 8:52 PM / a year ago. The sector has been consolidating after many shale producers borrowed in a bet on higher prices. This website provides details about the acquisition. 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. 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 News: This is the News-site for the company Concho Resources on Markets Insider Find the latest Concho Resources Inc. (CXO) stock quote, history, news and other vital information to help you with your stock trading and investing. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. We want to hear from you. About Concho Resources. "This acquisition results in the combination of two premier companies that can lead the structural change for our vital industry that’s critical to investors. Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. Find the latest news headlines from Concho Resources Inc. Common Stock (CXO) at Nasdaq.com. The company is engaged in the acquisition, development and exploration of oil and natural gas assets. 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