US shale producer Concho Resources is set to take over rival RSP Permian in a $9.5 billion all-stock deal that will give it a significant chunk of new acreage in the Permian basin on Texas and New Mexico.
The acquisition will see Concho expand its presence in the Permian basin by adding about 92,000 net acres to its existing oilfields portfolio in the region, increasing its total acreage to 640,000 acres and adding resource potential of 2.2
