Concho Resources


Concho Resources Inc. is a company engaged in hydrocarbon exploration, incorporated & organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin.
As of December 31, 2019, the company had of estimated proved reserves, of which 63% was petroleum and natural gas liquids and 37% was natural gas. Of these reserves, 55% were in the Delaware Basin and 45% were in the Midland Basin.

History

In 2004, the company was founded as Concho Equity Holdings Corporation by a group of businessmen headed Timothy A. Leach.
Also in 2004, the company acquired properties from Lowe Management for $117 million.
In 2006, the company acquired assets from Chase Oil and formed Concho Resources Inc.
In 2007, the company became a public company via an initial public offering.
In 2008, the company acquired Henry Petroleum for $584 million.
In 2010, the company acquired assets in the Permian Basin from Marbob Energy Corporation for $1.65 billion.
In 2012, the company acquired Three Rivers Operating Company for $1 billion.
In October 2016, the company acquired assets in the Midland Basin from Reliance Energy for $1.625 billion.
In November 2016, the company acquired assets in the Delaware Basin for $430 million.
In July 2018, the company acquired RSP Permian.