Concho Resources, Inc. (CXO, Financial) is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. Its core operations are focused in the Permian Basin of southeastern New Mexico and west Texas. Concho has an experienced management team that has bought and sold and operated oil and gas properties throughout the Permian Basin for over 30 years. The management has successfully created, built and sold two prior Concho entities to very large entities, creating significant shareholder value. The current incarnation of Concho has been built to grow through a combination of strategic acquisitions and the application of modern drilling and completion techniques to fields that have not previously been exploited using such techniques.
From Ron Baron’s Baron Funds third quarter 2013 letter.
From Ron Baron’s Baron Funds third quarter 2013 letter.
