Concho Resources Inc. Reports First Quarter 2008 Financial and Operating Results and Announces Increased 2008 Capital Budget.
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Concho Resources Inc. Reports First Quarter 2008 Financial and Operating Results and Announces Increased 2008 Capital Budget.
MIDLAND, Texas -- Concho Resources Inc. (NYSE: CXO) ("Concho" or the "Company") today reported first quarter 2008 financial and operating results. Highlights for the quarter ended March 31, 2008 include:
* Production of 8.4 Bcfe, a 17% increase over the same period in 2007 * Net income of $22.4 million, a 384% increase over the same period in 2007 * Net cash provided by operating activities of $69.8 million, a 125% increase over the same period in 2007 * EBITDAX1 of $79.4 million, a 91% increase over the same period in 2007 1 For an explanation of how we calculate and use EBITDAX and a reconciliation of net income ...See the full content of this document
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