Concho Company Description
Concho Resources explores and develops properties, located primarily in the Permian Basin region of eastern New Mexico and West Texas, for the production of oil and gas. It also owns properties in North Dakota and Arkansas. More than half of the company's 550 billion cu. ft. in proved 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. Two customers, energy marketers Navajo Refining Company (60% of 2007 sales) and DCP Midstream (23%), account for a great majority of Concho's sales. The company has more than 85 producing wells in operation. In 2008 it spent $585 million to buy Henry Petroleum.
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.
