Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. 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. Real time Concho Resources (CXO) stock price quote, stock graph, news & analysis. 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. As of January 15, 2021, Concho Resources Inc. was acquired by ConocoPhillips. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. 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. 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 News: This is the News-site for the company Concho Resources on Markets Insider Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. ConocoPhillips has agreed to buy Concho Resources Inc. for $9.7 billion in what would be the largest U.S. oil deal since the coronavirus pandemic began … The sector has been consolidating after many shale producers borrowed in a bet on higher prices. Conoco is a major producer in two other U.S. shale fields, but pumps about 50,000 bpd in the Permian. Concho … The company is engaged in the acquisition, development and exploration of oil and natural gas assets. "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. ConocoPhillips will buy Permian-focused driller Concho Resources for $9.7 billion, the largest shale deal this year. Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. Prices tanked instead, leaving shale investors with little to show for the rising output and companies struggling to pay down debts. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark We want to hear from you. Oil and gas producers are turning to consolidation to survive a slowdown in oil prices and demand. 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. 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. 10/02: CONCHO RESOURCES: to Present at the Raymond James North American Equities Confe.. PU. Layoffs: Downsizing related discussion, postings, questions and answers. Get today's Concho Resources stock news. © 2021 CNBC LLC. About Concho Resources. ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of … 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”). 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. ConocoPhillips has completed its acquisition of Concho Resources. 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. Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. 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. Concho Resources Inc. Concho Resources Inc. (CXO) full year performance was -20.83% Stock Market News for Oct 28, 2020 Oct. 28, 2020 at 10:10 a.m. Concho and Frontier will each own a 50% equity interest in BCC, with Frontier serving … 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. Find the latest Concho Resources Inc. (CXO) stock quote, history, news and other vital information to help you with your stock trading and investing. The deal is expected to provide $500 million in annual cost and capital savings by 2022. ConocoPhillips said the premium was 15% based on Concho's price on Oct. 13, before news reports on the deal talks surfaced. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. A high-level overview of Concho Resources Inc. (CXO) stock. HOUSTON--(BUSINESS WIRE)--Jan 15, 2021--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho… Sie können Ihre Einstellungen jederzeit ändern. 09/24: CONCHO RESOURCES … Company profile page for Concho Resources Inc including stock price, company news, press releases, executives, board members, and contact information This website provides details about the acquisition. 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. 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. 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. Related News /// Deep Casing Tools secures new investment to … 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. 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. Get Concho Resources Inc (CXO:NYSE) real-time stock quotes, news and financial information from CNBC. Most relevant news about CONCHO RESOURCES INC. 10/02: CONCHO RESOURCES: Schedules Third-Quarter 2020 Results Conference Call for Thur.. PU. 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. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. ET on Zacks.com Concho (CXO) Q3 Earnings Beat Estimates, Revenues Miss Mark "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. aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. We are working today to deliver a better tomorrow for our shareholders, people and communities. 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 is looking better than ever heading into 2020.The company has pulled off a cash flow turnaround by reporting excess cash for the … Get this delivered to your inbox, and more info about our products and services. 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. Got a confidential news tip? Find the latest news headlines from Concho Resources Inc. Common Stock (CXO) at Nasdaq.com. Concho shareholders will receive 1.46 shares of ConocoPhillips for each share held. 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 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. We cover the latest Concho Resources headlines and breaking news impacting Concho Resources stock performance. Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' Yahoo ist Teil von Verizon Media. Get the latest Concho Resources Inc. (CXO) stock news and headlines to help you in your trading and investing decisions. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. A Division of NBCUniversal. Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. DNB Asset Management AS’s […] 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. July 31, 2019 / 8:52 PM / a year ago. ConocoPhillips announced in October that it was buying Concho for $9.7 billion. Concho Resources focuses on the Permian Basin of Southeast New Mexico and West Texas. All Rights Reserved. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. 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. Concho Resources Inc. had a pretty Dodgy run when it comes to the market performance. ConocoPhillips acquires Concho Resources Save to read list Published by Elizabeth Corner , Editor World Pipelines , Monday, 18 January 2021 08:54 Dies geschieht in Ihren Datenschutzeinstellungen. Get the hottest stocks to … 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 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 … The company’s stock price has collected -8.86% of loss in the last five trading sessions. 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. It also would make it the largest U.S. independent, pumping 1.5 million barrels per day (bpd). Data is a real-time snapshot *Data is delayed at least 15 minutes. MarketWatch.com reported on 12/11/20 that Concho Resources Inc. stock falls Friday, underperforms market. Together, the two companies have a combined value of about $60 billion. Its second-quarter loss was $435 million, wider than a loss of $97 million a year earlier. 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. ConocoPhillips Concho Resources Houston Chronicle Oil & Gas ConocoPhillips has completed its acquisition of Concho Resources following approval by shareholders of … Business News. ConocoPhillips acquires Concho Resources Save to read list Published by Elizabeth Corner , Editor World Pipelines , Monday, 18 January 2021 08:54 “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. Concho Resources profit falls 25% on lower crude, gas prices. Concho had $3.9 billion in long-term debt at the end of June, and has not posted an annual profit since 2018. 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.