Concho Resources Inc (CXO.xnys)

Concho Resources Inc (CXO.xnys)

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Concho Resources Inc (CXO.xnys) Profile

Concho Resources (Concho) is a fracking business focused on exploring, developing, and extracting oil and gas assets in the Permian Basin, the hottest energy resource region on the US mainland. It has around 549,000 net acres in Southeastern New Mexico and West Texas, as well as over 255 net wells, the majority of which are underground. Its proven reserves total over 1,000 million barrels of crude oil and natural gas. Concho produces over 330 million barrels of crude oil equivalent per day, placing it among the leading production in the area and the only company operating completely in the Permian. Employee (all sites): 1,503. ConocoPhillips total assets for the quarter ending September 30, 2021 were $87.304B Latest stock price $0.900 0.095 11.80% Last Updated: Jan 14, 2022 4:10 p.m. AEDT.

Concho Resources Inc (CXO.xnys) News
U.S. oil and gas producer ConocoPhillips (NYSE:COP) will quit Indonesia, selling its assets there for $1.355 billion to domestic energy company Medco Energy International, and beef up in Australia as it continues to reshape.

The offers come on the heels of ConocoPhillips' decision to double down on US shale with the $9.5 billion acquisition of Royal Dutch Shell's (LON:RDSa) West Texas estates and the $13.3 billion acquisition of Concho Resources (NYSE:CXO), as well as its exit from Canada's oil sands, US offshore, and British North Sea fields.

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