Canaccord Genuity Raises Price Target on Concho Resources (CXO) Following Acuisition of Midland Acreage
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Concho Resources Inc. Announces Pricing of Common Stock Offering
August 15, 2016 8:02 PM EDTMIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (the Company) today announced that it has priced a public offering of 9,000,000 shares of its common stock for total gross proceeds (before underwriters fees and estimated expenses) of approximately $1,178 million. The underwriters have an option for 30 days to purchase up to an additional 1,350,000 shares of common stock from the Company.
The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise... More
Concho Resources Inc. Announces Public Offering of Common Stock
August 15, 2016 4:11 PM EDTMIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (the Company) today announced the launch of an underwritten public offering of 9,000,000 shares of common stock. The underwriters will have an option to purchase up to an additional 1,350,000 shares of common stock from the Company.
The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or... More
Concho Resources Inc. Announces Acquisition of Midland Basin Assets
August 15, 2016 4:10 PM EDTIncludes Approximately 40,000 Net Acres in Core Midland Basin
2017 Production Growth Outlook Approximately 20%
MIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (the Company or Concho) today announced it has reached a definitive agreement to acquire approximately 40,000 net acres in the core of the Midland Basin from Reliance Energy, a privately held, Midland-based energy company, for $1.625 billion. The privately negotiated acquisition is consistent with Conchos opportunistic and disciplined portfolio management strategy as it expands its core Midland Basin position to more than 150,000 net acres and production of 30 thousand barrels of oil equivalent per... More
