Concho Resources’ purchase of RSP Permian would create biggest active driller in shale hotspot
Concho Resources Inc. has agreed to buy RSP Permian Inc.in a deal that could herald the start of a consolidation push in America’s most active shale-drilling region.
The companies are valuing the all-stock deal at roughly $9.5 billion, including net debt from RSP, both firms said Wednesday. That would make it the largest-ever deal in the Permian Basin, the area of Texas and New Mexico where big companies including Exxon Mobil Corp. and Chevron Corp. are now ramping up production along with smaller independent shale drillers. Read More…