Published 4 years ago

ConocoPhillips to buy Concho Resources for $9.7 billion in 2020’s top shale deal

Summary

October 19, 2020(Reuters) – ConocoPhillips said on Monday it would buy Permian-focused driller Concho Resources Inc for $9.7 billion, the largest shale deal this year as oil and gas producers turn to consolidation to survive slowdown in oil prices and demand.Concho shareholders will receive 1.46 shares of ConocoPhillips for each share held.

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News18 India

ConocoPhillips Buying Concho In $9.7B All-stock Deal

ConocoPhillips is buying shale producer Concho Resources in an all-stock deal valued at $9.7 billion.

4 years ago·India

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Reuters

ConocoPhillips buys shale specialist Concho for $ 9.7 billion

- ConocoPhillips on Monday announced the acquisition of Concho Resources, a shale oil producer, for $ 9.7 billion, as the energy sector in the United States continues to consolidate in the face of weak prices and demand. With this transaction payable in full in shares, ConocoPhillips will become one of the main operators of the

4 years ago·United Kingdom

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abc News

ConocoPhillips buying Concho in $9.7B all-stock deal

ConocoPhillips is buying shale producer Concho Resources in an all-stock deal valued at $9.7 billion

4 years ago·United States

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Washington Times

ConocoPhillips buying Concho in $9.7B all-stock deal

ConocoPhillips is buying shale producer Concho Resources in an all-stock deal valued at $9.7 billion. Concho's common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips shares. The combined business will have an enterprise value of approximately $60 billion and a combined resource base ...

4 years ago·United States

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KRDO

The oil industry is in crisis. ConocoPhillips is doubling down

Despite the gloom-and-doom in the oil industry and the specter of a blue wave in Washington, ConocoPhillips is doubling down on crude by making a major acquisition.Conoco on Monday announced a $9.7 billion all-stock takeover of Concho Resources, a fracker squarely focused on the Permian Basin, the massive West Texas oilfield at the heart of the shale revolution.The companies said the deal will make the new Conoco the largest independent oil-and-…

4 years ago·Colorado Springs, United States

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