Concho Resources
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Through Petroleum and Natural gas
As of December 31, 2019, the company had 1,002 million barrels of oil equivalent (6.13×109 GJ) 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 by 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.
On January 15, 2021, the company was acquired by ConocoPhillips.