![ConocoPhillips To Buy Concho Resources](https://townsquare.media/site/521/files/2020/10/Oil-Barrels-Thinkstock-Photos-5079633361.jpg?w=980&q=75)
ConocoPhillips To Buy Concho Resources
ConocoPhillips is buying Concho Resources in an all-stock deal.
According to the Midland Reporter-Telegram, the deal is valued at $9.7 billion.
The combined companies will be estimated at about $60 billion.
The transaction will bring ConocoPhillips back as a top company and expand its position in the Permian Basin.
The deal is expected to be done by the first quarter of 2021.
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