Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Concho Sees Productive Delaware Bone Spring Wells
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Concho Resources Inc. has reported financial and operating results for the three months ended March 31, 2014.
Highlights include: Average production of 101.6 thousand barrels of oil equivalent per day (MBoepd) for the first quarter of 2014, above the high end of its previous quarterly guidance range of 98.0 to 101.0 MBoepd Added 39 new wells in the northern Delaware Basin with record high average 30-day and 24-hour peak rates of 909 and 1,488 Boepd, respectively Net income of $91.3 million, or $0.87 per diluted share, for the first quarter of 2014, as compared to net income of $30.1 million, or $0.29 per diluted share, in the first quarter of 2013 Increased 2014 production guidance range to 20% - 24% growth over 2013 Announced the formation of a midstream joint venture to construct a…- ✓ Full news archive — U.S., Canada & international coverage
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