Concho shells out $1.66bn for Marbob

Heading west: New Mexico

Tom Till

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Anthea Pitt

 20 July 2010 14:44 GMT

US explorer Concho Resources is set to boost its presence in the New Mexico sector of the Permian basin after agreeing to buy privately-held Marbob Energy for about $1.66 billion in cash and securities.

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