Concho Resources Inc. announced it plans to sell its New Mexico assets for $925 million.
The Midland, Texas-based company said it will sell its Permian Basin assets to an affiliate of Houston-based Spur Energy Partners LLC. The sale is expected to close in November. The company’s board of directors authorized the initiation of a repurchase program of up to $1.5 billion of the company’s shares of common stock.
“Proactively managing our asset portfolio has long been a key part of our strategy,”…
Source: The Business Journal
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