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Concho Resources Cuts 2020 Capital Program From $2.6B-$2.8B To $2B

  "Within the context of a dynamic environment and a substantial decrease in oil and natural gas prices, Concho Resources Inc. (NYSE:CXO) is prioritizing its strong balance sheet and capital returns

Benzinga · 03/17/2020 10:56

 

"Within the context of a dynamic environment and a substantial decrease in oil and natural gas prices, Concho Resources Inc. (NYSE:CXO) is prioritizing its strong balance sheet and capital returns to shareholders. The Company has reduced its 2020 capital program to approximately $2 billion from the $2.6 to $2.8 billion range previously announced. The revised capital range is approximately 25% lower than the Company's prior capital spending expectations for the year."