Concho Company Description
Concho Resources explores and develops properties, located primarily in the Permian Basin region of eastern New Mexico and the western area of Texas, for the production of oil and gas. It also owns properties in North Dakota and Arkansas. More than half of the company's 467 billion cu. ft. in proven reserves is made up of crude oil while the rest consists of natural gas. Concho Resources gets two-thirds of its sales from crude oil. Customers include such energy marketers as Navajo Refining Company (53% of sales) and DCP Midstream (18%). The company has over 80 producing wells in operation. In 2008 it spent $585 million to buy Henry Petroleum. Chase Oil owns 48% of the company.
View the Comprehensive Company Description for Concho
The Company Description provides a historical perspective of Concho's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Concho's evolution in the marketplace.
