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This hasn’t been a great year for shale oil drillers in general and Concho Resources (CXO), in particular. The Midland, Texas-based oil producer has struggled with declining profits and weak cash flows, and things could get even worse in the coming quarters. The decline in commodity prices and a drop in production will likely push the company’s earnings even lower. The company could also continue burning cash flows.
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This has been a tough year for oil and gas producers, thanks to the plunge in commodity prices. The spot prices