Company:Concho Resources
 | |
| Type | Public company |
|---|---|
| NYSE: CXO S&P 500 Index component | |
| Industry | Petroleum industry |
| Founded | 2004 |
| Founder | Timothy A. Leach |
| 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$4.592 billion (2019) |
 US$−987 million (2019) | |
| US$−705 million (2019) | |
| Total assets | US$24.732 billion (2019) |
| Total equity | US$17.782 billion (2019) |
Number of employees | 1,453 (2019) |
| Website | www |
| Footnotes / references [1] | |
Concho Resources Inc. is a company engaged in hydrocarbon exploration, incorporated & organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin.
As of December 31, 2019, the company had 1,002 million barrels of oil equivalent (6.13×109 GJ) of estimated proved reserves, of which 63% was petroleum and natural gas liquids and 37% was natural gas. Of these reserves, 55% were in the Delaware Basin and 45% were in the Midland Basin.[1]
History
In 2004, the company was founded as Concho Equity Holdings Corporation by a group of businessmen headed Timothy A. Leach.
Also in 2004, the company acquired properties from Lowe Management for $117 million.
In 2006, the company acquired assets from Chase Oil and formed Concho Resources Inc.
In 2007, the company became a public company via an initial public offering.[2]
In 2008, the company acquired Henry Petroleum for $584 million.[3]
In 2010, the company acquired assets in the Permian Basin from Marbob Energy Corporation for $1.65 billion.[4]
In 2012, the company acquired Three Rivers Operating Company for $1 billion.[5][6]
In October 2016, the company acquired assets in the Midland Basin from Reliance Energy for $1.625 billion.[7]
In November 2016, the company acquired assets in the Delaware Basin for $430 million.[8]
In July 2018, the company acquired RSP Permian.[9]
References
- ↑ 1.0 1.1 "Concho Resources Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/1358071/000135807120000011/cxo-1231201910k.htm.
- ↑ "Concho says IPO prices at $11.50/shr". Reuters. August 2, 2007. https://www.reuters.com/article/concho-ipo/concho-says-ipo-prices-at-11-50-shr-idUSWEN010720070803.
- ↑ "Concho Resources Inc. to Acquire Oil & Gas Properties in the Permian Basin for $565 Million" (Press release). Business Wire. June 5, 2008. External link in
|publisher=(help) - ↑ "Concho Resources Inc. to Acquire Oil & Gas Assets in the Permian Basin for $1.65 Billion" (Press release). Business Wire. July 20, 2010. External link in
|publisher=(help) - ↑ SCOTT, MARK (May 14, 2012). "Concho Resources to Buy Three Rivers for $1 Billion". The New York Times. https://dealbook.nytimes.com/2012/05/14/concho-resources-to-buy-three-rivers-for-1-billion/.
- ↑ Hoffman, Liz (May 14, 2012). "PE-Backed Driller Sells $1B In Assets After Axing IPO". Law360. https://www.law360.com/articles/339934/pe-backed-driller-sells-1b-in-assets-after-axing-ipo.
- ↑ "Concho Resources Inc. Completes Acquisition of Midland Basin Assets" (Press release). Business Wire. October 4, 2016. External link in
|publisher=(help) - ↑ "Concho Resources Inc. Announces Acquisition of Northern Delaware Basin Assets" (Press release). Business Wire. November 21, 2016. External link in
|publisher=(help) - ↑ "Concho Resources Inc. Completes Acquisition of RSP Permian, Inc" (Press release). Business Wire. July 19, 2018. External link in
|publisher=(help)
External links
- Business data for Concho Resources Inc.:
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