February 20, 2018 / 9:37 PM / 10 months ago

BRIEF-Concho Expects Q1 2018 Production To Average Between 215 MBoepd And 219 MBoepd

Feb 20 (Reuters) - Concho Resources Inc:

* . REPORTS FOURTH-QUARTER AND FULL-YEAR 2017 RESULTS AND PROVIDES 2018 OUTLOOK

* Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.66 EXCLUDING ITEMS

* Q4 EARNINGS PER SHARE $1.79

* PROVIDES NEW LONG-TERM GROWTH OUTLOOK TO 2020

* PRODUCTION FOR Q4 2017 WAS 19 MMBOE, AN INCREASE OF APPROXIMATELY 28% FROM Q4 2016

* CONCHO RESOURCES - ‍FOR 2018, EXPECTING CRUDE OIL PRODUCTION GROWTH OF ABOUT 20% & PRODUCTION GROWTH OF 16% -20% ON $2 BILLION CAPITAL PROGRAM AT MIDPOINT​

* Q4 AVERAGE DAILY CRUDE OIL PRODUCTION TOTALED 130 MBOPD, AN INCREASE OF APPROXIMATELY 30% FROM Q4 2016

* CONCHO RESOURCES - ‍PROVIDED 3-YEAR PRODUCTION GROWTH OUTLOOK OF 20% CAGR OVER 2017 TO 2020 TIME PERIOD​

* CONCHO RESOURCES - ‍AT DEC 31, 2017, CO'S ESTIMATED PROVED RESERVES TOTALED 840 MMBOE, INCREASE OF 17% FROM YEAR-END 2016​

* QTRLY TOTAL OPERATING REVENUES $780 MILLION VERSUS $525 MILLION

* CONCHO RESOURCES - ‍FOR 2018, CO HAS CRUDE OIL SWAP CONTRACTS COVERING ABOUT 105 MBOPD AT WEIGHTED AVERAGE PRICE OF $52.98 PER BBL​

* FOR Q1 OF 2018, CONCHO EXPECTS PRODUCTION TO AVERAGE BETWEEN 215 MBOEPD AND 219 MBOEPD

* SEES 2018 CAPITAL PROGRAM OF $1.9 BILLION TO $2.1 BILLION Source text for Eikon: Further company coverage:

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