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ConocoPhillips to acquire Concho Resources in $9.7 billion transaction

Christian Fernsby ▼ | October 19, 2020
ConocoPhillips and Concho Resources announced that they have entered into a definitive agreement to combine companies in an $9.7 billion all stock transaction.
Concho Resources   ConocoPhillips
Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, representing a 15 percent premium to closing share prices on October 13.

Topics: ConocoPhillips Concho Resource

Two asset portfolios create a combined resource base of approximately 23 billion barrels of oil equivalent with a less than $40 per barrel WTI cost of supply and an average cost of supply below $30 per barrel WTI.