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CXO - ConocoPhillips And Concho: A Timely Acquisition But Shareholders Are Not Impressed
Concho Resources Inc.
On October 19, 2020, ConocoPhillips and US shale oil producer Concho Resources agreed to combine companies in an all-stock transaction worth approximately $9.7 billion in stock.
Total production for the combined company will be likely close to 1.4-1.5 Million Boep/d (assuming no curtailments).
As always, in such acquisitions, we can look at it from two radically opposite perspectives.