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. 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. aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. Sign up for free newsletters and get more CNBC delivered to your inbox. Real time Concho Resources (CXO) stock price quote, stock graph, news & analysis. We want to hear from you. “Concho Resources is one of the premier acquisition targets among U.S. shale drillers and Conoco is on a very short list of potential buyers,” Dittmar said in a statement sent to Rigzone. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. 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 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. July 31, 2019 / 8:52 PM / a year ago. Dies geschieht in Ihren Datenschutzeinstellungen. Get this delivered to your inbox, and more info about our products and services. Concho Resources profit falls 25% on lower crude, gas prices. A high-level overview of Concho Resources Inc. (CXO) stock. Concho … 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. ConocoPhillips has completed its acquisition of Concho Resources. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. 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 … 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 … Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. 10/02: CONCHO RESOURCES: to Present at the Raymond James North American Equities Confe.. PU. Get today's Concho Resources stock news. 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. Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. 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 Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. Concho Resources News: This is the News-site for the company Concho Resources on Markets Insider 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. "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. Related News /// Deep Casing Tools secures new investment to … The company is engaged in the acquisition, development and exploration of oil and natural gas assets. Its second-quarter loss was $435 million, wider than a loss of $97 million a year earlier. Concho Resources Inc. (CXO) full year performance was -20.83% Concho Resources Inc. 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. About Concho Resources. 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. 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. ConocoPhillips Concho Resources Houston Chronicle Oil & Gas ConocoPhillips has completed its acquisition of Concho Resources following approval by shareholders of … Yahoo ist Teil von Verizon Media. We are working today to deliver a better tomorrow for our shareholders, people and communities. "Concho has been on the short list of big Permian companies attracting interest due to its large production, vast acreage and relatively low debt," said Andrew Dittmar, M&A analyst at consultancy Enverus. Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. ConocoPhillips said the premium was 15% based on Concho's price on Oct. 13, before news reports on the deal talks surfaced. 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 and Frontier will each own a 50% equity interest in BCC, with Frontier serving … Concho had $3.9 billion in long-term debt at the end of June, and has not posted an annual profit since 2018. Get the latest Concho Resources Inc. (CXO) stock news and headlines to help you in your trading and investing decisions. The sector has been consolidating after many shale producers borrowed in a bet on higher prices. Company profile page for Concho Resources Inc including stock price, company news, press releases, executives, board members, and contact information Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' 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. HOUSTON--(BUSINESS WIRE)--Jan 15, 2021--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho… © 2021 CNBC LLC. 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. This website provides details about the acquisition. MarketWatch.com reported on 12/11/20 that Concho Resources Inc. stock falls Friday, underperforms market. The company’s stock price has collected -8.86% of loss in the last five trading sessions. 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. ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of … Find the latest news headlines from Concho Resources Inc. Common Stock (CXO) at Nasdaq.com. Together, the two companies have a combined value of about $60 billion. Get Concho Resources Inc (CXO:NYSE) real-time stock quotes, news and financial information from CNBC. ConocoPhillips announced in October that it was buying Concho for $9.7 billion. Sie können Ihre Einstellungen jederzeit ändern. As of January 15, 2021, Concho Resources Inc. was acquired by ConocoPhillips. Conoco is a major producer in two other U.S. shale fields, but pumps about 50,000 bpd in the Permian. 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. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. Prices tanked instead, leaving shale investors with little to show for the rising output and companies struggling to pay down debts. 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 … 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. DNB Asset Management AS’s […] Got a confidential news tip? ConocoPhillips buys Concho Resources for $9.7 billion in stock, ConocoPhillips CEO on how $9.7 billion Concho deal could help further ESG strategy. It also would make it the largest U.S. independent, pumping 1.5 million barrels per day (bpd). ConocoPhillips and Concho will each file the vote results for their respective special shareholder meetings on a Form 8-K with the U.S. Securities and Exchange Commission. 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. Concho Resources focuses on the Permian Basin of Southeast New Mexico and West Texas. 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. All Rights Reserved. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. 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. 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