When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
EOG - ConocoPhillips Makes A Good Buy In Concho Resources
EOG Resources Inc.
ConocoPhillips is buying Concho Resources in an acquisition valued $9.7 billion, expected to close 1Q21. Concho’s current market capitalization is $9.3 billion.
In March 2018 Concho itself paid $9.5 billion for RSP Permian. At year-end 2019, Concho’s reserves had an SEC PV-10 value of $10.6 billion.
While oil prices are lower and the trajectory uncertain, COP is buying solid assets in the best U.S. basin at a reasonable cost.