Two $900+ million asset sales were announced on September 3rd, 2019. The producing oil and gas assets were sold by publicly traded companies, Concho Resources Inc. (CXO) of Midland, Texas and Crescent Point Energy Corp. (CPG) of Calgary, Alberta and were purchased by private equity backed companies. Despite transaction similarities and concurrent timing, valuation differences led the selling companies' share prices to react quite differently:
The performance difference is more stark over a month time period, as the market seems to have been pricing in some impact of