Moody's places RSP Permian under review for upgrade following acquisition announcement
Moody's Investors Service (Moody's) placed the ratings of RSP Permian, Inc. (RSP Permian, Ba3) under review for upgrade following the announcement of a definitive agreement to be acquired by Concho Resources Inc. (Concho, Ba1 positive) in a transaction valued at approximately $9.5 billion, inclu...RSP Permian is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and natural gas reserves in the Permian Basin of West Texas. The company designs and manages the well development and supervises operation and maintenance activities on a day-to-day basis. Independent contractors engaged by the company provides all the equipment and personnel associated with these activities. As of Dec 31 2017, the company had total proved reserves of 375.9 million barrels of oil equivalent, consisting of 261.3 million barrels of oil, 295.02 billion cubic feet of natural gas, and 65.4 million barrels of natural gas liquids.
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