Concho Resources Inc. (NYSE:CXO) Files An 8-K Regulation FD Disclosure
Item7.01
| Regulation FD Disclosure |
On December13, 2016, Concho Resources Inc. (the
Company) and its subsidiaries announced
their intention to offer $600,000,000 aggregate principal amount
of senior unsecured notes due 2025 in a publicly underwritten
offering (the Notes Offering).
In connection with the Notes Offering, the Company is disclosing
under Item7.01 of this Report the following information contained
in the preliminary prospectus supplement and investor
presentation that is being delivered to potential investors in
connection with the Notes Offering. The information contained in
this Report, does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the senior unsecured
notes in the Notes Offering or any other securities of the
Company.
Company Hedging Positions
As of December13, 2016, the Companys crude oil and natural gas
hedges were as follows:
| FourthQuarter 2016 | ||||||||||||
|
Oil Swaps: (a) |
||||||||||||
|
Volume (Bbl) |
5,054,000 | 24,688,800 | 19,046,124 | |||||||||
|
Price per Bbl |
$ | 59.38 | $ | 54.58 | $ | 51.38 | ||||||
|
Oil Basis Swaps: (b) |
||||||||||||
|
Volume (Bbl) |
5,060,000 | 22,412,000 | 1,095,000 | |||||||||
|
Price per Bbl |
$ | (1.48 | ) | $ | (0.79 | ) | $ | (0.89 | ) | |||
|
Natural Gas Swaps: (c) |
||||||||||||
|
Volume (MMBtu) |
7,360,000 | 51,859,398 | 20,595,000 | |||||||||
|
Price per MMBtu |
$ | 3.02 | $ | 3.06 | $ | 3.03 |
In accordance with General Instruction B.2 of Form 8-K, the
information presented herein under Item7.01 shall not be deemed
to be filed for the purposes of Section18 of the Exchange Act of
1934, as amended (the Exchange Act), or
otherwise subject to the liability of that section, and is not to
be incorporated by reference into any filing of the Company under
the Securities Act of 1933 or the Exchange Act, except as shall
be expressly set forth by specific reference in such filing.
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 down -3.98 at 138.02 with 1,597,172 shares trading hands.