Concho Resources draws on facility for purchase of oil and gas assets

By Sara Rosenberg

New York, Oct. 15 - Concho Resources Inc. used borrowings under its credit facility to fund the roughly $285 million acquisition of additional oil and gas assets, predominately located on the New Mexico Shelf of the Permian Basin, according to a news release.

In connection with the acquisition, Concho and Marbob Energy Corp. resolved their litigation with BP America Production Co. and Apache Corp. related to certain preferential purchase rights.

Concho is a Midland, Texas-based oil and natural gas company.

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