Past year: ▼ 13%(41.51 – 75.78 USD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Nov 2016capital raising announcement● NeutralMajor
On Nov 19, 2016 Concho's subsidiary agreed to buy northern Delaware Basin oil and gas assets from an undisclosed seller, paying partly with 2,177,300 Concho shares at $128.60 (about $280.0 million in value). Closing is expected in January 2017. This is a new acquisition, separate from the Reliance deal; the filing gives no total price or other terms.
16 Aug 2016capital raising announcement● NeutralMajor
Concho agreed on Aug 15, 2016 to buy about 40,000 net acres in the Northern Midland Basin from Reliance for about $1.625 billion: $1,137.5 million in cash plus either $487.5 million in cash or 3,958,526 Concho shares (at $123.1519), with the company saying it expects to use the share option (option must be exercised by Aug 29, 2016). Closing is expected in the second half of 2016; an $81.25 million deposit may be forfeited if it fails. Concho also launched a 9,000,000-share public offering to help pay for it, though that offering does not depend on the deal closing. This follows the Jan 2016 purchase from an unnamed seller.
19 Jan 2016capital raising announcement● NeutralMajor
On January 14, 2016 Concho's subsidiary COG Operating agreed to buy oil and gas properties from an unnamed seller, paying partly with 2,213,895 new Concho shares valued at $90.34 each (the 30-day average price), roughly $200 million of stock by simple multiplication. The deal is expected to close in the first quarter of 2016; the filing does not name the seller, describe the assets or give the cash portion of the price.
20 July 2010capital raising announcement● NeutralMajor
Concho agreed to buy substantially all the oil and gas assets of Marbob Energy and affiliates (Pitch, Costaplenty, John R. Gray LLC) for about $1.65 billion: $1.45 billion cash, a $150 million 8% unsecured note due eight years after closing, and 1,103,752 shares at $45.30 to Pitch. It plans to fund the cash with a $300 million private placement of 6,622,517 shares at $45.30 plus its credit facility (an amendment is still to be arranged, backed by lender commitments). Closing is expected by November 30, 2010; Concho can terminate if title and environmental defects exceed $51.5 million, paying a $20 million fee. This is far larger than the $225 million Terrace deal in 2009, and the new shares will dilute existing holders.
