Concho Resources Completes Acquisition of RSP Permian

Published: July 20, 2018 |

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Concho Resources Inc. has completed its acquisition of RSP Permian, Inc. The transaction creates the largest unconventional shale producer in the Permian Basin.

“We are excited to complete this transaction and welcome the RSP team to Concho. By combining two great companies focused on the highest quality resources in the Permian Basin, we are creating a compelling enterprise with the scale and technical expertise necessary to compete globally. The transition to large-scale development has been one of our most important operational and strategic priorities. RSP’s incredible asset base enhances our development platform within the Permian Basin to drive continued performance, innovation and stronger returns for our shareholders,” said Tim Leach, chairman and chief executive officer of Concho.

“Concho’s solid financial position, which includes a low cost of capital and investment-grade ratings, underpins our scale advantage and enables Concho to accelerate value across the combined portfolio through capital efficient, large-scale development,” added Leach.

Related news on Mining Connection, March 28, 2018:
Concho Resources to Acquire RSP Permian in $9.5 Billion Stock Deal

About Concho Resources
Concho is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. Concho’s operations are focused in the Permian Basin of Southeast New Mexico and West Texas.

To stop by Concho Resources’ website, CLICK HERE

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