Concho was built on a strategy of investing in high-quality, high rate-of-return projects, executing large, safe and efficient drilling programs and maintaining a strong financial position. Our strategy has allowed us to consistently increase our production and reserves at low costs and to capitalize on opportunities when they arise.

Recent News

12.20.12 Concho Resources Inc. Completes Non-Core Asset Divestiture

MIDLAND, Texas--(BUSINESS WIRE)--Dec. 20, 2012-- Concho Resources Inc. (NYSE: CXO) ("Concho" or the "Company") today announced that it has closed its previously announced divestiture of certain non-core producing properties located primarily in the Permian Basin of West Texas and Southeast New Mexico to Legacy Reserves LP (NASDAQ: LGCY) for cash consideration of approximately $520 million, subject to customary post-closing adjustments.

Proceeds from the non-core divestiture will be used to reduce outstanding borrowings under the Company's credit facility. Giving effect to these proceeds, the Company's pro forma outstanding borrowings under its credit facility as of September 30, 2012 would have been $284 million.

Tim Leach, Concho's Chairman, CEO and President, commented, "This non-core asset divestiture completes our financing strategy for the Three Rivers acquisition and represents good value for mature, producing assets. Going forward, we are well positioned to execute our growth strategy targeting a deeper inventory of high rate-of-return drilling opportunities in the Delaware Basin, New Mexico Shelf and Midland Basin."

About Concho Resources Inc.

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's operations are focused in the Permian Basin of Southeast New Mexico and West Texas. For more information, visit Concho's website at www.concho.com.

Forward-Looking Statements and Cautionary Statements

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements, estimates and projections regarding the Company's anticipated financial condition and results, future production, and future liquidity These statements are based on certain assumptions made by the Company based on management's experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Source: Concho Resources Inc.

Concho Resources Inc.
Price Moncrief, 432-683-7443
Vice President of Capital Markets and Strategy

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12.18.12 Concho Resources Inc. Announces Participation in Upcoming Conference

MIDLAND, Texas--(BUSINESS WIRE)--Dec. 18, 2012-- Concho Resources Inc. (NYSE: CXO) (the "Company") today announced its upcoming participation at the Goldman Sachs Global Energy Conference 2013 on Tuesday, January 8th at 9:00 AM EST. The presentation will be available on Concho's website, www.concho.com.

About Concho Resources Inc.

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's operations are focused in the Permian Basin of Southeast New Mexico and West Texas. For more information, visit Concho's website at www.concho.com.

Source: Concho Resources Inc.

Concho Resources Inc.
Price Moncrief, 432-683-7443
Vice President of Capital Markets and Strategy

Read More
12.10.12 Concho Resources Inc. Schedules Fourth Quarter 2012 Conference Call for February 21, 2013

MIDLAND, Texas--(BUSINESS WIRE)--Dec. 10, 2012-- Concho Resources Inc. (NYSE: CXO) ("Concho" or the "Company") will host a conference call on Thursday, February 21, 2013, at 9:00 a.m. CST to discuss its fourth quarter financial and operating results. Earnings are expected to be released after the market closes on Wednesday, February 20, 2013.

Individuals who would like to participate should call (866) 271-5140 (passcode: 10112096) approximately 15 minutes before the scheduled conference call time. To access the live audio webcast, please visit the investor relations section of the Company's website, www.concho.com. A replay of the call will also be available, by dialing (888) 286-8010 (passcode: 61682005) or via the Company's website, for approximately 30 days following the conference call.

About Concho Resources Inc.

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. For more information, visit Concho's website at www.concho.com.

Source: Concho Resources Inc.

Concho Resources Inc.
Price Moncrief, 432-683-7443
Vice President of Capital Markets and Strategy

Read More

IR CONTACTS

Megan Hays
Vice President of Investor Relations and Public Affairs
(432) 685-2533
mhays@concho.com
Mary T. Starnes
Senior Financial Analyst, Investor Relations
(432) 221-0477
mstarnes@concho.com

TRANSFER AGENT

American Stock Transfer & Trust Company
59 Maiden Lane, Plaza Level
New York, NY 10038
www.amstock.com

Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas.