Concho Resources Inc

Specialising in hydrocarbon exploration (in layman’s terms, an oil company), Concho Resources was founded in 2004 and is headquartered in Midland, Texas. Concho Resources operates primarily in the Permian, Delaware and Midland Basins. It extracts petroleum, natural gas, and natural gas liquids. The founder of Concho Resources is Timothy A. Leach, who headed a consortium of businessmen called Concho Equity Holdings Corporation. Having gone public in 2007, Concho Resources is listed on the New York Stock Exchange. The IPO of CXO stock was initially valued at $11.50 per share, with a total company valuation of over $240 million. CXO is also part of the S&P 500 Index. Concho Resources is heavily active in acquisitions, making several large purchases over the last few years. The company made a $1 billion acquisition of Three Rivers Operating Company in 2012. This was followed by purchases in 2016 of assets in the Midland and Delaware Basin totalling over $2 billion. Want to learn more about Concho Resources? The eToro trading account has everything you need to get started.