Deal Insight

Concho takes out RSP Permian for US$9.5 billion

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30 March 2018

Concho takes out RSP Permian for US$9.5 billion

Report summary

In the largest Permian-only deal ever, Concho plans to acquire RSP Permian for US$9.5 billion in an all stock transaction, representing a 29% premium over market value. The pro-forma company will soon operate the largest rig program in the Permian, at 27 rigs across 640,000 net acres. We value the acquisition at a remaining post-tax NPV10 of US$9.9 billion (US$65/bbl long-term price assumption). Concho has placed a lot of value (PV of US$2+ billion) in this acquisition's potential ...

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 10 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Deal analysis: Table 5
  • Concho and RSP operated wells
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Concho takes out RSP Permian for US$9.5 billion

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