What company bought Concho Resources?
ConocoPhillips
ConocoPhillips has completed its acquisition of Concho Resources. This website provides details about the acquisition. “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.
Where is Concho Resources located?
Midland, Texas
Concho Resources
| Industry | Petroleum industry |
|---|---|
| Headquarters | Midland, Texas |
| Key people | Timothy A. Leach, Chairman & CEO Jack F. Harper, CFO |
| Production output | 331 thousand barrels of oil equivalent (2,030,000 GJ) per day (2019) |
| Revenue | US$4.592 billion (2019) |
When did Conoco buy Concho?
2011
ConocoPhillips acquires Concho Resources for $13.3 billion in the largest pure shale deal since 2011. ConocoPhillips is acquiring Permian heavyweight Concho Resources in an all-stock deal for $49.30 per share (total equity value of $9.7 billion) and a total enterprise value of $13.3 billion.
What company did ConocoPhillips buy?
Shell
In a blockbuster deal that represents the largest all-cash acquisition in the U.S. upstream sector in more than 3 years, Houston-based ConocoPhillips COP -2.4% agreed to purchase the Permian Basin assets of Shell for $9.5 billion.
Why did Conoco buy Concho?
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. It also would make it the largest U.S. independent, pumping 1.5 million barrels per day (bpd).
What happened to Concho Resources?
Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. ConocoPhillips reached the initial deal to buy the Midland, Texas-based exploration and production company in October.
Is Concho AZ on the reservation?
CONCHO- Concho is the oldest continuously lived-in community in the White Mountains not on a reservation.
What does WPX Energy do?
WPX Energy Inc. is an independent energy producer with core positions in the Permian and Williston basins. WPX’s production is approximately 80% oil/liquids and 20% natural gas. The company also has an infrastructure portfolio in the Permian Basin.
How much did Concho sell for?
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.
What did ConocoPhillips pay for Concho?
$9.7 billion
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.
Is Concho publicly traded?
The multibillion-dollar deal is an all-stock transaction, which means that ConocoPhillips will pay Concho shareholders in ownership interest rather than cash. The deal required approval from shareholders behind both companies, and it takes Concho off public markets as a standalone company.