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Concho Resources Inc (CXO.N)

CXO.N on New York Stock Exchange

131.36USD
15 Aug 2018
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$-5.80 (-4.23%)
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Latest Key Developments (Source: Significant Developments)

Concho Resources To Acquire RSP Permian In All-Stock Transaction
Wednesday, 28 Mar 2018 06:01am EDT 

March 28 (Reuters) - Concho Resources Inc ::CONCHO RESOURCES INC. TO ACQUIRE RSP PERMIAN, INC. IN ALL-STOCK TRANSACTION.CONCHO RESOURCES INC - DEAL FOR ALL-STOCK TRANSACTION VALUED AT APPROXIMATELY $9.5 BILLION.CONCHO RESOURCES INC - ‍CONSIDERATION WILL CONSIST OF 0.320 SHARES OF CONCHO COMMON STOCK FOR EACH SHARE OF RSP COMMON STOCK​.CONCHO RESOURCES INC - ‍TRANSACTION WAS UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF EACH COMPANY​.CONCHO RESOURCES INC - SEES DEAL TO BE IMMEDIATELY ACCRETIVE TO KEY PER-SHARE METRICS.CONCHO RESOURCES INC - ‍UPON CLOSING, CONCHO'S BOARD WILL BE EXPANDED TO 11 DIRECTORS, TO INCLUDE ONE INDEPENDENT MEMBER OF RSP BOARD​.CONCHO RESOURCES INC - ‍AS PART OF DEAL, CO EXPECTS TO REALIZE OVER $60 MILLION IN ANNUAL CORPORATE LEVEL SAVINGS​.CONCHO RESOURCES INC - ACQUISITION IS EXPECTED TO BE ACCRETIVE IN FIRST YEAR TO CONCHO'S KEY PER-SHARE METRICS.CONCHO RESOURCES INC - DEAL WILL ADD ABOUT 92,000 NET ACRES THAT COMPLEMENT CONCHO'S EXISTING ACREAGE POSITION IN PERMIAN BASIN​.CONCHO RESOURCES INC - CONSIDERATION TO EACH RSP SHAREHOLDER TO BE $50.24 PER SHARE.CONCHO RESOURCES INC - ‍TRANSACTION ADDS 2.2 BILLION BOE OF RESOURCE POTENTIAL​.CONCHO RESOURCES INC - ‍CONCHO SHAREHOLDERS WILL OWN ABOUT 74.5% OF COMBINED CO, AND RSP SHAREHOLDERS WILL OWN ABOUT 25.5%​.CONCHO RESOURCES - TO ACQUIRE RSP IN AN ALL-STOCK TRANSACTION VALUED AT ABOUT $9.5 BILLION, INCLUSIVE OF RSP'S NET DEBT.  Full Article

Concho Expects Q1 2018 Production To Average Between 215 MBoepd And 219 MBoepd
Tuesday, 20 Feb 2018 04:15pm EST 

Feb 20 (Reuters) - Concho Resources Inc ::. REPORTS FOURTH-QUARTER AND FULL-YEAR 2017 RESULTS AND PROVIDES 2018 OUTLOOK.Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.66 EXCLUDING ITEMS.Q4 EARNINGS PER SHARE $1.79.PROVIDES NEW LONG-TERM GROWTH OUTLOOK TO 2020.PRODUCTION FOR Q4 2017 WAS 19 MMBOE, AN INCREASE OF APPROXIMATELY 28% FROM Q4 2016.CONCHO RESOURCES - ‍FOR 2018, EXPECTING CRUDE OIL PRODUCTION GROWTH OF ABOUT 20% & PRODUCTION GROWTH OF 16% -20% ON $2 BILLION CAPITAL PROGRAM AT MIDPOINT​.Q4 AVERAGE DAILY CRUDE OIL PRODUCTION TOTALED 130 MBOPD, AN INCREASE OF APPROXIMATELY 30% FROM Q4 2016.CONCHO RESOURCES - ‍PROVIDED 3-YEAR PRODUCTION GROWTH OUTLOOK OF 20% CAGR OVER 2017 TO 2020 TIME PERIOD​.CONCHO RESOURCES - ‍AT DEC 31, 2017, CO'S ESTIMATED PROVED RESERVES TOTALED 840 MMBOE, INCREASE OF 17% FROM YEAR-END 2016​.QTRLY TOTAL OPERATING REVENUES $780 MILLION VERSUS $525 MILLION.CONCHO RESOURCES - ‍FOR 2018, CO HAS CRUDE OIL SWAP CONTRACTS COVERING ABOUT 105 MBOPD AT WEIGHTED AVERAGE PRICE OF $52.98 PER BBL​.FOR Q1 OF 2018, CONCHO EXPECTS PRODUCTION TO AVERAGE BETWEEN 215 MBOEPD AND 219 MBOEPD.SEES 2018 CAPITAL PROGRAM OF $1.9 BILLION TO $2.1 BILLION.  Full Article

Concho Resources posts Q3 adj. earnings per share $0.45
Tuesday, 31 Oct 2017 04:05pm EDT 

Oct 31 (Reuters) - Concho Resources Inc :Concho Resources Inc reports third quarter 2017 results.Q3 adjusted non-GAAP earnings per share $0.45.Q3 loss per share $0.77.Q3 earnings per share view $0.27 -- Thomson Reuters I/B/E/S.Expects production to average approximately 200 mboepd to 204 mboepd, with a 62 pct oil mix, in the fourth quarter of 2017‍​.Concho Resources Inc - ‍crude oil production for Q3 of 2017 totaled 119.6 thousand barrels per day (mbopd), an increase of approximately 31 pct from Q3 of 2016​.Concho Resources - for Q4, co expects oil & natural gas production expense to be at high end of the guidance range of $5.50 per boe to $6.00 per boe‍​.Production for Q3 averaged 193.2 thousand boe per day (mboepd), an increase of about 26 pct from the third quarter of 2016‍​.Qtrly total operating revenues $627 million versus $430 million.  Full Article

CONCHO RESOURCES ANNOUNCES PRICING OF SENIOR UNSECURED NOTES
Wednesday, 13 Sep 2017 04:32pm EDT 

Sept 13 (Reuters) - Concho Resources Inc ::CONCHO RESOURCES INC. ANNOUNCES PRICING OF SENIOR UNSECURED NOTES.CONCHO RESOURCES INC - ‍PRICED AN OFFERING OF A TOTAL OF $1,800 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES​.CONCHO RESOURCES INC - ‍2027 NOTES WILL BEAR INTEREST AT A RATE OF 3.750% PER ANNUM AND WILL BE ISSUED AT 99.636% OF PAR​.CONCHO RESOURCES INC - ‍2047 NOTES WILL BEAR INTEREST AT A RATE OF 4.875% PER ANNUM AND WILL BE ISSUED AT 99.749% OF PAR​.CONCHO RESOURCES INC - ‍PRICED AN OFFERING CONSISTING OF $1,000 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2027​.CONCHO RESOURCES INC - ‍PRICED AN OFFERING ALSO CONSISTING OF $800 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2047​.  Full Article

Concho Resources announces proposed offering of senior unsecured notes
Wednesday, 13 Sep 2017 08:39am EDT 

Sept 13 (Reuters) - Concho Resources Inc :Concho Resources announces proposed offering of senior unsecured notes.Concho Resources Inc - ‍intends to publicly offer two new series of its senior unsecured notes, one of which will mature in 2027 and other in 2047​.Concho Resources - ‍ intends to use proceeds, among others, to fund purchase of its 5.5% senior notes due 2022, 5.5% senior notes due 2023​.  Full Article

Concho Resources Q2 adj earnings per share $0.52
Wednesday, 2 Aug 2017 04:05pm EDT 

Aug 2 (Reuters) - Concho Resources Inc ::Concho Resources Inc. Reports second quarter 2017 results.Q2 adjusted non-gaap earnings per share $0.52.Q2 earnings per share $1.02.Q2 earnings per share view $0.43 -- Thomson Reuters I/B/E/S.Concho Resources Inc says increased qtrly production 27% year-over-year to 184.7 mboepd.Concho Resources Inc - raised annual production growth outlook to a midpoint of 25 pct and expect oil production to increase by more than 25 pct.Concho Resources Inc - full-year 2017 capital expenditures, excluding acquisitions, tracking midpoint of guidance range of $1.6 billion to $1.8 billion.Q2 earnings per share view $0.43 -- Thomson Reuters I/B/E/S.  Full Article

Concho Resources entered second amendment to its second amended and restated credit agreement
Thursday, 13 Apr 2017 06:29am EDT 

Concho Resources Inc : Concho Resources - on April 12, Concho Resources entered second amendment to its second amended and restated credit agreement dated as of May 9, 2014 . Concho Resources - second amendment to credit agreement extends maturity date of company's credit facility from May 9, 2019 to May 9, 2022 . Concho Resources - second amendment increases co's current borrowing base under second amended and restated credit agreement from $2.8 billion to $3.0 billion .Second amendment also decreases aggregate amount of lender commitments from $2.5 billion to $2.0 billion.  Full Article

Concho Resources reports Q4 loss per share $0.86
Tuesday, 21 Feb 2017 04:05pm EST 

Concho Resources Inc : Concho Resources Inc reports fourth quarter and full-year 2016 results . Q4 adjusted non-gaap earnings per share $0.20 . Q4 loss per share $0.86 . Q4 earnings per share view $-0.07 -- Thomson Reuters I/B/E/S . Quarterly production of 164.3 mboepd, up 7pct quarter-over-quarter . Increased full-year 2017 production growth target to 20%-24% . For Q1 of 2017, concho expects production to average between 172 mboepd and 176 mboepd .Current capital outlook of $1.6 billion to $1.8 billion for 2017 is expected to be funded through cash flow from operations.  Full Article

Concho Resources files to say selling stockholder may offer to sell up to 2.2 mln shares at $133.72/share - SEC filing
Friday, 13 Jan 2017 06:30pm EST 

Concho Resources Inc :Concho Resources Inc files to say selling stockholder may offer to sell up to 2.2 million shares of co at $133.72 per share - SEC filing.  Full Article

Concho Resources Inc says notes will bear interest at a rate of 4.37% per annum
Tuesday, 13 Dec 2016 07:40am EST 

Concho Resources Inc : Concho Resources Inc- has priced an offering of $600 million aggregate principal amount of senior unsecured notes due 2025 . Concho Resources Inc - notes will bear interest at a rate of 4.375% per annum and will be issued at par .Concho Resources Inc. Announces pricing of senior unsecured notes.  Full Article

BRIEF-Concho Resources Says On May 17, Board Increased Size Of Board By One Member

* CONCHO RESOURCES SAYS ON MAY 17, BOARD INCREASED SIZE OF BOARD BY ONE MEMBER - SEC FILING Source http://bit.ly/2KzQuPU Further company coverage: