Deal Insight

ConocoPhillips acquires Concho Resources for US$13 billion

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23 October 2020

ConocoPhillips acquires Concho Resources for US$13 billion

Report summary

ConocoPhillips is acquiring Concho Resources in an all-stock transaction worth US$13.2 billion. The pro forma entity will have an enterprise value of approximately US$60 billion, with Concho and ConocoPhillips shareholders owning 21% and 79%, respectively. The combined company will now be the second-largest tight oil producer in the US Lower 48. The deal enhances ConocoPhillips' footprint in the Permian and adds significant low-cost inventory to its portfolio.

Table of contents

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

Tables and charts

This report includes 9 images and tables including:

  • Executive summary: Table 1
  • Concho and ConocoPhillips Permian wells
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Combined production and cash flow outlook

What's included

This report contains:

  • Document

    ConocoPhillips acquires Concho Resources for US$13 billion

    PDF 1.47 MB