February 20, 2018 / 9:36 PM / 4 months ago

Concho Resources reports fourth-quarter profit

Feb 20 (Reuters) - U.S. shale oil producer Concho Resources Inc reported a profit for the fourth quarter on Tuesday compared with a year-ago loss, helped largely by a $398 million benefit from U.S. tax changes.

The company posted net income of $267 million, or $1.79 per share, in the quarter ended Dec. 31, compared with a net loss of $125 million, or 86 cents per share, a year earlier.

Total production rose 28 percent to 19 million barrels of oil equivalent per day. (Reporting by Taenaz Shakir in Bengaluru; Editing by Maju Samuel)

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