2.2.0.7 false Subsequent events 0217 - Disclosure - Subsequent events true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Subsequent events [Abstract] 0 cxo_SubsequentEventsAbstract cxo false na duration Subsequent events. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Subsequent events. false 3 Subsequent events 1 us-gaap_ScheduleOfSubsequentEventsTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Note Q. </b><b><i>Subsequent events</i></b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <b><i>Marbob Acquisition. </i></b>On July 19, 2010, the Company entered into an asset purchase agreement to acquire certain of the oil and natural gas leases, interests, properties and related assets owned by Marbob for aggregate consideration of (i) cash in the amount of $1.45 billion, (ii) the issuance by the Company to Marbob of an 8 percent unsecured promissory note due 2018 in the aggregate principal amount of $150 million and (iii) the issuance to Marbob of approximately 1.1 million shares of the Company’s common stock, subject to purchase price adjustments, which included downward purchase price adjustments based on the exercise of third parties of contractual preferential rights to purchase certain interests in properties to be acquired from Marbob. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     In October 2010, the Company closed the Marbob Acquisition. At closing, the Company paid approximately $1.1 billion in cash plus the unsecured promissory note and common stock described above for a total purchase price of approximately $1.3 billion. The total purchase price as originally announced was reduced due to third party contractual preferential rights to purchase certain of the interests in the Marbob properties. The Marbob Acquisition remains subject to certain post-closing adjustments. Certain of the third parties’ contractual preferential rights became subject to litigation, as discussed below. The Company funded the cash consideration in the Marbob Acquisition with borrowings under its Credit Facility and proceeds from the Private Placement. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <b><i>Marbob preferential rights. </i></b>Certain of the Marbob interests in properties contained contractual preferential rights to purchase by third parties if Marbob were to sell them. Marbob informed the Company of its receipt of a notice from BP America Production Company (“BP”) electing to exercise its contractual preferential purchase right to purchase interests in certain of Marbob’s properties as a result of the Marbob Acquisition. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     On July 20, 2010, BP announced it was selling all its assets in the Permian Basin to a subsidiary of Apache Corporation (“Apache”). Marbob and BP owned common interests in certain properties subject to contractual preferential rights to purchase. BP and Apache contested Marbob’s ability to exercise its contractual preferential rights in this situation. As a result, Marbob and the Company filed suit against BP and Apache seeking declaratory judgment and injunctive relief to protect Marbob’s contractual right to have the option to purchase these interests in these common properties. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     On October 15, 2010, the Company and Marbob resolved the litigation with BP and Apache related to the disputed contractual preferential rights. As a result of the settlement, we acquired a non-operated interest in substantially all of the oil and natural gas assets subject to the litigation for approximately $286 million. This acquisition remains subject to certain post-closing adjustments. The Company funded the acquisition with borrowings under its Credit Facility. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <b><i>New commodity derivative contracts. </i></b>In October 2010, the Company entered into the following oil price swaps to hedge additional amounts of its estimated future oil production: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="64%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Aggregate</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Index</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Contract</b></td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Volume</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Price</b><sup style="font-size: 85%; vertical-align: text-top"><b>(a)</b></sup></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Period</b></td> </tr>   <tr style="font-size: 1px"> <td colspan="13" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px"><i>Oil (volumes in Bbls):</i> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">378,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">85.62</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/11 - 6/30/11</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">200,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">83.47</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/11 - 11/30/11</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">2,568,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">85.98</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/11 - 12/31/11</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">96,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">86.80</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">7/1/11 - 12/31/11</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">540,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">86.84</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/12 - 6/30/12</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">389,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">86.95</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/12 - 11/30/12</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Price swap </div></td> <td> </td> <td> </td> <td align="right">1,914,000</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">87.58</td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right">1/1/12 - 12/31/12</td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>The index prices for the oil price swaps are based on the NYMEX-West Texas Intermediate monthly average futures price.</td> </tr> </table>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Describes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. 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