- Oil prices are showing weakness and volatility, with the WT trading in the high-$30s to low-$40s a barrel range.
- Concho Resources has solid downside protection, with a vast majority of its output hedged at attractive prices, and can continue generating free cash flows.
- By reducing its controllable cash costs and well costs, Concho Resources will solidify its position as a low-cost operator that can deliver profits at weak oil prices.
- Concho Resources has an under-levered balance sheet, favorable debt maturity profile, and ample liquidity of $2.3 billion.
For further details see:
Concho Resources: Well Prepared To Face A Difficult Period