Concho Resources Inc.

Public Company, Headquarters Location
550 W Texas Ave., Ste. 1300, Midland, TX 79701-4210, United States
(432)683-7443, http://www.conchoresources.com

Primary SIC: Crude Petroleum And Natural Gas, Primary NAICS: Crude Petroleum and Natural Gas Extraction
Description: Concho Resources Inc., a Delaware corporation, formed in February 2006 as a result of the combination of Concho Equity Holdings Corp. (now known as Concho Equity Holdings LLC) and a portion of the oil and natural gas properties and related assets owned by Chase Oil Corporation and certain of its affiliates. Concho Equity Holdings Corp. was formed in April 2004 and represents the third of three Permian Basin-focused companies that have been formed since 1997 by its current management team (the prior two companies were sold to large domestic independent oil and gas companies). Headquartered in Midland, Texas, Concho Resources is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. As of December 31, 2007, 99 percent of the company's total estimated net proved reserves were located in the Permian Basin of Southeast New Mexico and West Texas, and consisted of approximately 59 percent crude oil and 41 percent natural gas. Concho Resources drilled, or participated in the drilling of, 117 gross (87.7 net) wells in 2007, 85 percent of which were completed as producers, 2 percent of which were dry holes and 13 percent of which were awaiting completion as of December 31, 2007. In addition, the company recompleted, or participated in the recompletion of, 132 gross (107.8 net) wells, 95 percent of which were productive.Mining: Natural gas and oil.