Concho Anticipates Growing Output in Permian

摘要

Permian Basin operator Concho Resources now says its 2016 production may increase by as much as 2, while still spending within its cash flows. Concho reported second-quarter production of 145,000 barrels of oil equivalent per day (62 oil), a 2 decrease year-over-year but still higher than it expected. "Our performance this quarter highlights our ongoing drive to increase capital efficiency, with relentless focus on asset performance, cost savings and capital discipline," Chief Executive Tim Leach told analysts on a Wednesday conference call.