Add-on Acquisition • Oil/Gas Exploration

Concho Resources Acquires RSP Permian

On March 28, 2018, Concho Resources acquired oil/gas exploration company RSP Permian for 9.5B USD

Acquisition Context
  • This is Concho Resources’ 4th transaction in the Oil/Gas Exploration sector.
  • This is Concho Resources’ largest (disclosed) transaction.
  • This is Concho Resources’ 4th transaction in the United States.
  • This is Concho Resources’ 4th transaction in Texas.

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M&A Deal Summary

Date March 28, 2018
Target RSP Permian
Sector Oil/Gas Exploration
Buyer(s) Concho Resources
Deal Type Add-on Acquisition
Deal Value 9.5B USD
Advisor(s) TPH & Co. (Financial)
Vinson & Elkins (Legal)

Target Company

RSP Permian

Dallas, Texas, United States
RSP Permian, Inc. is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas.
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Buyer Overview 1

Buyer

Concho Resources

Midland, Texas, United States

Category Company
Founded 2006
Sector Oil/Gas Exploration
Revenue 4.6B USD (2019)
DESCRIPTION

Concho Resources, Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. Concho Resources was founded in 2006 and is based in Midland, Texas.


Deal Context for Buyer #
Overall 4 of 5
Sector: Oil/Gas Exploration 4 of 5
Type: Add-on Acquisition 4 of 4
State: Texas 4 of 4
Country: United States 4 of 5
Year: 2018 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-13 Three Rivers Operating Co.

Austin, Texas, United States

Three Rivers Operating Company LLC is an oil and gas exploration and acquisition/exploitation company with a focus in the Permian Basin of West Texas and Southeast New Mexico.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 Concho Resources - Produced Water Assets

Midland, Texas, United States

Concho Resources, Inc. - Produced Water Assets include three disposal wells with 45,000 bpd of permitted capacity and approximately 44 miles of pipeline.

Sell -