Concho Resources (CXO) Misses Q4 EPS by 11c, Offers Outlook
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Concho Resources Inc. Reports Fourth Quarter and Full-Year 2015 Results
February 24, 2016 4:30 PM ESTMIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (the Company or Concho) today reported financial and operating results for the fourth quarter and full year 2015.
Highlights
Full-year 2015 production increased 28% year-over-year, with crude oil production up 31%. Exploration and development capital expenditures were $1.8 billion during 2015, down 28% from 2014. Year-end 2015 estimated proved reserves totaled 623.5 MMBoe. Reserves replaced at a ratio of 291%, excluding price revisions, and at a drill-bit finding and development cost of $11.66 per Boe. Total resource potential estimated at approximately 5... More