Home / Centerstage / 2016 / august / Week 2 /
Concho Resources Inc. expands its position in the Midland Basin by acquiring approximately 40,000 net acres from Reliance Energy for about $1.625 billion. The deal includes cash payment of around $1.1 billion and stock worth about $500 million. Additionally, Concho raises $1.178 billion from the sale of 9 million common shares, enabling the company to strengthen its financial position and support further growth in the oil and gas industry.
Sunday, 14 August, 2016