CONCHO RESOURCES COMPLETES MIDLAND BASIN ASSET ACQUISITION

摘要

Concho Resources Inc. completed its previously announced acquisition of approximately 40,000 net acres in the core of the Midland Basin from Reliance Energy for approximately $1.625 billion. The acquired assets, which are located in Andrews, Martin and Ector counties in Texas, include production of 10 MBoepd, comprised of 67% crude oil. Concho is currently running one rig on the acquired assets and plans to add a second rig in early 2017.