Concho Resources Is Raising Production By 25% In 2019 [Seeking Alpha]
CONCHO RESOURCES (CXO)
Last concho resources earnings: 4/30 04:02 pm
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US:NYSE Investor Relations:
ir.concho.com/investors/events-and-presentations/default.aspx
Company Research
Source: Seeking Alpha
Summary Concho Resources is progressing towards large-scale development plans, especially through their recent RSP acquisition. Fixed cost absorption from large-scale development programs and efficiencies gained are lowering breakevens, allowing top-tier producers like CXO to operate profitably in a $40 WTI environment. More wells are scheduled to come online in 2019 than in 2018, paving the way for additional earnings growth. The recent dip seen in E&P’s stock prices is offering investors a chance to build a position in a high-quality name like CXO at attractive valuations. Concho Resources' ( CXO ) stock price has been hammered along with the rest of E&Ps due to falling oil prices and fears of a slowing global economy, particularly in emerging markets. However, companies like CXO are lowering their breakevens by moving to manufacturing mode and are doing so by funding operations within cash flows instead of debt. They are even accelerating the amount of large-scale
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