One-Page Deal Sheet
Conoco to Acquire Concho Resources in $9.7B All-Stock Transaction
ConocoPhillips Concho Resources, Inc.
Announced Date
October 19,2020
Effective Date
January 15,2021
Close Date
January 15,2021
Transaction Type
Corporate
Enterprise Value (EV)($MM)
9700
Asset/Basin:
["Permian", "Midland Basin", "Delaware Basin"]
TargetZones:
[]
Net Acres
% Oil:
Proved Reserves
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin,Permian - Midland Basin
Country
United States
State
Texas
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
ConocoPhillips has agreed to acquire Permian competitor Concho Resources, confirming last week's speculation of a potential takeover deal involving the two companies.
Upon close, ConocoPhillips will be the largest independent oil and gas company in the U.S.
The deal is an all-stock transaction worth $9.7 billion, with each share of Concho common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, representing a 15% premium to closing share prices on October 13.
Upon closing, Concho's Chairman and CEO Tim Leach will become ConocoPhillips' Executive VP…
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