Though the amount of oil coming out of Saudi Arabia has been halved, U.S. oil producers have no plans for drastic strategic changes.
News & Analysis: Concho Resources
Drone strikes over the weekend knocked half of the country’s capacity offline.
The falling price of crude wasn't the only issue weighing on the Permian Basin-focused oil producer last month.
Lower oil and gas prices and a failed test hurt the Permian Basin-focused driller.
Concho Resources is selling assets so that it can start buying back a big chunk of its stock.
CXO earnings call for the period ending June 30, 2019.
Investors did not like the Permian Basin-focused driller’s approach.
Oil companies are ramping up their cash returns.
CXO earnings call for the period ending March 31, 2019.
Concho Resources is investing in another midstream startup in the Permian Basin.