May 2018, Vo. 245, No. 5

Company News

Concho Resources

Concho Resources will buy West Texas rival RSP Permian for $9.5 billion in a merger creating the largest shale driller in the Permian. The acquisition makes Concho an even larger player in the region, which now accounts for more than half of the oil drilling rigs in the United States. The sale adds about 92,000 net acres to  Concho’s existing acreage position in the Permian Basin.

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