Another huge source of value in the deal will be the combination of industry-leading expertise from the two giants. Conoco has said they plan to develop a “best practices” approach as a result of the deal.
“Through this combination, we are joining a diversified energy company with even more scale and resources to create shareholder value in today’s markets and beyond,” said Tim Leach, the chairman and chief executive officer of Concho Resources.
The merger marks another massive deal in the oil and gas space following Chevron’s acquisition of Noble Energy earlier in 2020.
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