Concho Resources, Inc. said it will bring spending down this year to $2.0 billion from earlier guidance of $2.6-2.8 billion, which in turn was a 10% reduction from 2019 spending. The company will focus on cost structure improvement. Chairman and CEO Tim Leach said the company’s priorities are “protecting our balance sheet and the dividend, generating free cash flow and preserving our flexibility and opportunity set.” Though Concho has $4.0 billion of long-term debt......
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