Concho Resources Inc. (NYSE:CXO) Files An 8-K Regulation FD DisclosureItem 7.01
Alpha Holding Company, LLC Disposition
As previously announced, on January 19, 2017, Concho Resources Inc., through its wholly owned subsidiary, COG Operating LLC, entered into a definitive securities purchase agreement with Plains Pipeline, L.P. to sell 50% of the issued and outstanding Class A Units of Alpha Holding Company, LLC (the “Disposition”), for net aggregate consideration of approximately $800 million. The Disposition closed on February 14, 2017.
About Concho Resources Inc. (NYSE:CXO)
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. Its three core operating areas include New Mexico Shelf, where it targets the Yeso formation with horizontal drilling; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation and the Wolfcamp shale formation, and Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling. The Company has reserves of approximately 623.5 million barrels of oil equivalent (MMBoe) that are located in its core operating areas. The Company’s core operations are focused in the Permian Basin, which underlies an area of Southeast New Mexico and West Texas approximately 250 miles wide and 300 miles long. Concho Resources Inc. (NYSE:CXO) Recent Trading Information
Concho Resources Inc. (NYSE:CXO) closed its last trading session up +2.01 at 144.26 with 698,107 shares trading hands.