CXO - Concho Resources: An Exceptional Permian Play Beaten Down
Concho Resources (CXO) has caught our attention as the stock has been falling dramatically in recent sessions. The company is in our opinion rather high-quality. Concho Resources' operations are centered on oil and natural gas exploration and production in the Permian Basin, which is one of the most prolific oil and gas regions in the U.S. The company's core operating areas include the Delaware Basin and the Midland Basin and spans nearly one million gross acres in southeast New Mexico and west Texas. We believe ultimately that at oil prices at $55 and