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Concho Resources completes acquisition of Midland Basin assets

Published by
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.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06102016/concho-resources-completes-acquisition-of-midland-basin-assets/

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