Concho: Permian Land Swap,$280 Million Sale Now, Consolidation Later

摘要

Concho Resources Inc.(NYSE: CXO)opened up fourth-quarter 2018 with a demonstration of advanced A&D judo in the Midland and Delaware basins that shifts a total of 55,000 net acres in the Permian between Concho and a trading partner. Concho also pivoted from noncore acreage through a sale of about 20,000 net acres in and around Ward and Reeves counties, Texas,to private buyers for $280 million. Colgate Energy LLC and Luxe Energy II LLC were reportedly the buyers,according to BMO Capital Markets. Both transactions closed in February,Concho said on Feb. 20.