CXO News and Press, Concho Resources Inc. From 10/27/20

Concho Resources Inc. (NYSE: CXO) today announced third-quarter 2020 results, reporting a net loss of $61 million, or $0.31 per share. Adjusted net income (non-GAAP), which excludes certain non-cash and special items, for third-quarter 2020 was $282 million, or $1.43 per share. ...

Shale has huge competition to fill remaining oil demand. Zero cash takeovers for Permian producers is a very bad signal for the rest of the industry. Debt-laden shale companies simply cannot pay down debt at likely demand and prices - a last wave of bankruptcies and takeunders is ...

NEW YORK, NY / ACCESSWIRE / October 24, 2020 / Halper Sadeh LLP, a global investor rights law firm, is investigating: Eaton Vance Corp. (NYSE:EV) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Morgan Stanley...

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. Stocks rallied to finish Friday higher, but were down for the week with earnings unable to shake the market out of its habit of jumping and d...

Another day, another announced M&A deal in North American energy. Operators continue to consolidate in the Permian in particular, a region where stock valuations had contracted to silly levels. Deals were inevitable. Investors in other areas of energy (midstream, services) sho...

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 ...

A wave of consolidation has washed over the oil sector in the last month. The latest deal came on Tuesday as Pioneer Natural Resources (NYSE: PXD) reached an agreement to buy fellow Permian Basin producer Parsley Energy (NYSE: PE) . That merger ...

NEW YORK, NY / ACCESSWIRE / October 21, 2020 / Halper Sadeh LLP, a global investor rights law firm, is investigating: MyoKardia, Inc. (NASDAQ:MYOK) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Bristol-Mye...

Cycle bottom M&A indicate two things to us: 1) High implied decline in PDP resulting in inability to access to capital, and 2) no capital. A flurry of deals have been announced during the last two months, but the most notable one, in our view, was Pioneer buying Parsley. Parsl...

This morning, COP announced it had agreed with Concho on an all-stock bid for CXO valued at a reported $9.7 billion. Including debt, the total price tag was an estimated $13.3 billion, roughly what COP received for selling the majority of its oil sands production to Cenovus back in 20...