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CM - Concho hits debt reduction target via $925MM NW Shelf sale - March 2020

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Concho Resources achieved its $500-700 million debt reduction target using proceeds from the completed sale of its position on the Permian Basin’s Northwest Shelf in New Mexico for $925 million to Spur Energy Partners, the company announced in its annual and 4Q19 results. The company ended 2019 with net debt of $3.9 billion. The Nov. 1 deal brought Concho’s FY19 total proceeds from all sales to $1.3 billion, and it ended the year with......
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