Concho Resources Inc. Announces Production Results for the Third Quarter and Nine Months Ended September 30, 2019; Provides Production Guidance for Fourth Quarter of 2019; Announces Impairment Charges for the Three Months Ended September 30, 2019
For the nine months, the company reported net oil production volumes of 56,602 MBbl compared to 42,947 MBbl a year ago. Net natural gas production volumes of 199,284 MMcf compared to 148,633 MMcf a year ago. Total production volumes of 89,816 MBoe compared to 67,719 MBoe a year ago. Total average daily oil production volumes were 207,333 bbl compared to 157,315 bbl a year ago. Total average daily natural gas production volumes were 729,978 mcf compared to 544,443 mcf a year ago. Total average daily production volumes were 328,996 Boe compared to 248,056 Boe a year ago.
For the fourth-quarter 2019 production is expected to be 318 MBoepd to 325 MBoepd (64% oil), which reflects the impact of the Company's planned New Mexico Shelf sale. Excluding the impact of the planned asset sale, fourth-quarter 2019 production is expected to be 334 MBoepd to 341 MBoepd (64% oil).
For the third quarter, the company reported impairments of long-lived assets $101,000.