ConocoPhillips to buy Concho Resources for $9.7 billion in 2020’s top shale deal

zA

In this news, we discuss the ConocoPhillips to buy Concho Resources for $9.7 billion in 2020’s top shale deal.

(Reuters) – ConocoPhillips COP.N said on Monday it would buy Permian-focused driller Concho Resources Inc CXO.N for $ 9.7 billion, the largest shale deal this year as oil producers and gas companies are turning to consolidation to survive slowing oil prices and demand. .

Concho shareholders will receive 1.46 ConocoPhillips shares for each share held.

Reporting by Arunima Kumar and Arathy S Nair in Bangalore; Edited by Shinjini Ganguli

Original © Thomson Reuters

Disclaimer: If you need to update/edit/remove this news or article then please contact our support team.
For Latest Updates Follow us on Google News
Bollyinside - US Local News & Breaking News Stories
Logo
Compare items
  • Total (0)
Compare
0