Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. 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. “We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will deliver,” said Ryan Lance, ConocoPhillips chairman and chief executive officer. ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources ("Concho") (NYSE: CXO) following approval by shareholders of both companies. HOUSTON, Texas, Jan. 16-- ConocoPhillips, a producer of oil and gas resources, issued the following news release on Jan. 15:. The historical quarterly production (oil equivalent) chart is more explicit. ConocoPhillips Wades Deeper Into Permian With Concho Acquisition Rich Duprey 10/19/2020 Domestic terrorism has superseded the threat … January 15, 2021 - 11:56 am. ConocoPhillips, an independent oil and gas exploration company, said it will acquire the U.S. shale oil producer Concho Resources in an all-stock transaction valued at $9.7 billion. “We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will … ConocoPhillips announced that it has completed its acquisition of Concho Resources following approval by shareholders of both companies. Do NOT follow this link! The MarketWatch News Department was not involved in the creation of this content. The Concho acquisition gives ConocoPhillips about 700,000 net acres in the Permian Basin—more than quadruple the size of its previous position in the Permian—which the Houston-based company expects to be a cornerstone in its global portfolio. ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (Concho) (NYSE: CXO) following approval by shareholders of both companies. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. Together, the two companies have a combined value of about $60 billion. ConocoPhillips completed the acquisition of shale producer Concho Resources after receiving shareholder approval of both companies. ConocoPhillips and Concho will each file the vote results for their respective special shareholder meetings on a Form 8-K with the U.S. Securities and Exchange Commission. ConocoPhillips COP is considering the acquisition of smaller rival Concho Resources Inc. CXO, per Bloomberg. The all-stock acquisition values Concho at a 15% premium to its closing price on Oct. 13 and would give shareholders 1.46 shares of ConocoPhillips stock for each share of Concho common stock. We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will deliver, said Ryan Lance, ConocoPhillips […] ConocoPhillips and Concho will each file the vote results for their respective special shareholder meetings on a Form 8-K with the US Securities and Exchange Commission. ConocoPhillips is acquiring Permian heavyweight Concho Resources in an all-stock deal for $49.30 per share (total equity value of $9.7 billion) and a total enterprise value of $13.3 billion. The acquisition adds 550,000 net acres ConocoPhillips is buying Concho Resources in a $9.7 billion all-stock deal. ConocoPhillips Confirms $9.7B Acquisition Deal With Concho Zacks Equity Research October 20, 2020 CVX Quick Quote CVX COP Quick Quote … ConocoPhillips and Concho will each file the vote results for their respective special shareholder meetings on a Form 8-K with the U.S. Securities and Exchange Commission. ConocoPhillips has completed its acquisition of Concho Resources following approval by shareholders of both companies. NS Energy is using cookies. ConocoPhillips announced in October that it was buying Concho for $9.7 billion. The 2Q was … The current market volatility might … ConocoPhillips could be the next Houston-based energy company to make a multibillion-dollar acquisition deal, according to Bloomberg. Shares of … ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as one of America’s largest independent oil explorers looks … Let's look at ConocoPhillips, which is trying to break out over resistance. ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho”) (NYSE: CXO) following approval by The headline came from ConocoPhillips' (COP) $9.7 billion acquisition of Concho Resources (CXO). Now some are seeking out merger and acquisition targets to reduce costs. HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho”) (NYSE: CXO) following approval by shareholders of both companies. Representatives for ConocoPhillips and Concho … ConocoPhillips plans to lay off about a quarter of its Houston employees after the nation’s largest independent oil producer acquires rival Concho Resources early next year. ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources ("Concho") (NYSE: CXO) following approval by shareholders of both companies. ConocoPhillips COP has confirmed its decision to buy Concho Resources Inc. CXO in an all-stock transaction, valued at $9.7 billion. ConocoPhillips Completes Acquisition of Concho Resources January 15, … ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources ("Concho") (NYSE: CXO) following approval by shareholders of both companies. ConocoPhillips (NYSE: COP) reported Friday that it has completed its acquisition of Concho Resources (NYSE: CXO), with shareholders of both firms having approved the combination. ConocoPhillips And Concho: A Timely Acquisition But Shareholders Are Not Impressed (NYSE:COP) Fun Trading Oct. 22, 2020 9:22 AM ET ConocoPhillips And Concho: A Big Move (NYSE:COP) Meanwhile, oilfield service majors Schlumberger (SLB) … ConocoPhillips has completed its acquisition of Concho Resources following approval by shareholders of both companies. 1 - ConocoPhillips before the Concho Resources' acquisition. We use them to give you the best experience. 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