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Concho Resources
Defunct U.S. energy company From Wikipedia, the free encyclopedia
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Concho Resources Inc. was a company engaged in hydrocarbon exploration, incorporated and organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin. In 2021, the company was acquired by ConocoPhillips.
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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]
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History
In 2004, the company was founded as Concho Equity Holdings Corporation by a group of businessmen headed by Timothy A. Leach. Also in 2004, the company acquired properties from Lowe Management for $117 million. From that point in time, the following events took place:
- 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]
- On January 15, 2021, the company was acquired by ConocoPhillips.[10][11][12]
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References
External links
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