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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Mar. 2, 9:57 AM

Slide #4. Concho Resources Inc. Secondary Offering

Company: Concho Resources Inc. (NYSE:CXO)
Date announced: 2/26/2015
Shares Offered: 6,000,000
Date of Pricing: 2/27/2015
Price Per Share: $108.33
Secondary Offering Details: Concho Resources Inc. (NYSE:CXO) (the "Company") today announced the launch of an underwritten public offering of 5,600,000 shares of common stock. The underwriter will have an option to purchase up to an additional 840,000 shares of common stock from the Company. Proceeds from the offering are expected to be used to repay all outstanding borrowings under the Company's credit facility and for general corporate purposes, which may include funding the Company's drilling and development program and future acquisitions. - updated 2/27 -Concho Resources Inc. (NYSE:CXO) (the "Company") today announced that it has priced an upsized public offering of 6,000,000 shares of its common stock for total gross proceeds (before underwriter's fees and estimated expenses) of approximately $650 million. The underwriter has an option for 30 days to purchase up to an additional 900,000 shares of common stock from the Company. Proceeds from the offering are expected to be used to repay all of the outstanding borrowings under the Company's credit facility and for general corporate purposes, which may include funding of the Company's drilling and development program and future acquisitions.

Concho Resources is an oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. Co. refers to its three core operating areas as the New Mexico Shelf, where it primarily targets the Yeso formation; the Delaware Basin, where it primarily targets the Bone Spring formation (including the Avalon shale and the Bone Spring sands) and the Wolfcamp shale; and the Texas Permian, where it primarily targets the Wolfberry, a term applied to the combined Wolfcamp and Spraberry horizons. As of Dec 31 2013, Co. had total proved reserves of 307.4 million barrels of oil and 1,173.24 billion cubic feet of natural gas.
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Company Name:  Concho Resources Inc
Website:  www.conchoresources.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding CXO:  35
Total Market Value Held by ETFs:  $195.68M
Total Market Capitalization:  $13.20B
% of Market Cap. Held by ETFs:  1.48%
 

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March 2, 2015    9:57 AM Eastern
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Buy (3.42 out of 4)
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