Concho Resources Inc. Announces Pricing of Upsized Equity Offering
MIDLAND, Texas--Concho Resources Inc. (NYSE: CXO) announced today that certain of its stockholders, including entities affiliated with the Chase family, have priced a secondary offering of 11,845,000 shares of Concho Resources' common stock at $18.05 per share. The size of the offering was increased from the previously announced secondary offering of 8,700,000 shares. The offering is expected to close on December 19, 2007.
The underwriters have also been granted an option by an entity affiliated with the Chase family to purchase up to an additional 1,776,615 shares to cover over-allotments. Concho Resources will not receive any proceeds from the sale of the shares sold in this secondary offering.
J.P. Morgan Securities Inc. and Banc of America Securities LLC are acting as joint book-running managers for the offering. Lehman Brothers Inc. is the joint lead manager. BNP Paribas Securities Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wachovia Capital Markets, LLC are co-managers in the offering.
The offering is being made by means of a prospectus, copies of which may be obtained by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, New York, 11245, Attention: Prospectus Department; or Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by email at dg.prospectus_distribution@bofasecurities.com or by mail at Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, New York, 10001.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Concho Resources Inc.
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. The Company's conventional operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the Company is involved in a number of unconventional emerging resource plays.
Contacts
Concho Resources Inc., Midland
Jack Harper, 432-683-7443
Vice President - Capital Markets and Business Development
The underwriters have also been granted an option by an entity affiliated with the Chase family to purchase up to an additional 1,776,615 shares to cover over-allotments. Concho Resources will not receive any proceeds from the sale of the shares sold in this secondary offering.
J.P. Morgan Securities Inc. and Banc of America Securities LLC are acting as joint book-running managers for the offering. Lehman Brothers Inc. is the joint lead manager. BNP Paribas Securities Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wachovia Capital Markets, LLC are co-managers in the offering.
The offering is being made by means of a prospectus, copies of which may be obtained by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, New York, 11245, Attention: Prospectus Department; or Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by email at dg.prospectus_distribution@bofasecurities.com or by mail at Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, New York, 10001.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Concho Resources Inc.
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. The Company's conventional operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the Company is involved in a number of unconventional emerging resource plays.
Contacts
Concho Resources Inc., Midland
Jack Harper, 432-683-7443
Vice President - Capital Markets and Business Development
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