Concho Resources (CXO) Reports Q1 Loss of $0.05
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Concho Resources (NYSE: CXO) reported Q1 EPS of ($0.05), versus $0.36 reported last year. Revenue for the quarter came in at $283.6 million, versus $413.52 million reported last year.
Outlook
For the second quarter of 2016, Concho expects production to average between 138 MBoepd and 142 MBoepd. In addition, Concho updated its full-year 2016 outlook for certain items. The following table summarizes the Company’s current guidance for those items, as compared to the Company’s prior guidance.
Full Year 2016 | ||||||
Prior | Current | |||||
Annual production growth | -5% - 0% | 0% | ||||
Crude oil differential to NYMEX, excluding commodity derivatives ($/Bbl) | ($3.75) - ($4.25) | ($3.50) - ($4.00) | ||||
Lease operating expense ($/Boe) | $7.50 - $8.00 | $7.25 - $7.75 | ||||
Depreciation, depletion and amortization expense ($/Boe) | $24.00 - $26.00 | $22.00 - $24.00 | ||||
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For earnings history and earnings-related data on Concho Resources (CXO) click here.
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