Concho Resources completes acquisition of Midland Basin assets
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
Concho Resources Inc. has completed its previously announced acquisition of approximately 40 000 net acres in the core of the Midland Basin from Reliance Energy for approximately US$1.625 billion. The acquired assets, which are located in Andrews, Martin and Ector counties in Texas, include production of 10 million boe/d, 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.
To read the full article
"Concho Resources completes acquisition of Midland Basin assets"
Please sign in or register for FREE
Sign in »
Register for free »
Get started absolutely FREE in 2 minutes, plus receive a free printed magazine.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06102016/concho-resources-completes-acquisition-of-midland-basin-assets/
You might also like
Nigeria’s oil and gas industry expands as crude and condensate production reaches 554.4 million bbls and gas output grows by 7.5 billion ft3/d in 2025
Sarens and its subsidiary in Nigeria, Sarens Buildwell, has positioned itself as the optimal strategic partner for the oil and gas sector due to its strong commitment to the highest international standards of safety and operational excellence.