Concho Resources Inc. Company Highlights Permian Basin Leading pure-play Permian Basin operator 400 MMBoe year-end 2011 estimated proved reserves1 Results in 1Q 2012: Drilled 210 gross wells Produced 6.9 MMBoe (+36% over 1Q…
Permian Basin Current Activity Technology expanding resource potential across the Permian Basin Yeso Activity targeting Lower Abo Wolfberry unconventional reservoirs Wolfcamp Cline/Penn Approximately 494 rigs Mississipian…
Operational Strategy Continued focus on the Permian Basin Exposed to some of the most prolific oil plays in the U.S. Capitalize on the strategic benefits of being one of the largest operators in the Permian Basin Committed to…
Track Record of Production & Reserve Growth Annual Production (MMBoe) Proved Reserves (MMBoe) 28.7 - 29.8 386.5 323.5 23.6 15.6 211.5 10.9 137.3 7.1 91.0 77.8 5.0 3.8 3.9 1.2 17.9 17.8 12.5 0.1 2004…
Strong, Liquids-driven Profitability Unhedged Cash Margin1 Percentage vs. Average NYMEX Natural Gas Price (/MMbtu) Realized Price (/Boe) 66.04 62.49 61.68 65.96 70.84 80.07 72.01 73.24 73.39 5.07 Avg. NYMEX Gas 4.34 4.37…
Reinvest High Margin Cash Flow into Robust ROR Projects Inventory Rates of Return1 Yeso Wolfberry Bone Spring sands Avalon shale 66% 56% 63% 46% 54% 52% 38% 45% 42% 33% 37% 34% 30% 30% 27% 24% 80/bbl; 4/mcf…
Updated 2012 Capital Budget and Activity 2012 Capital Budget: 1.5bn 2012 Drilling & Completion Budget: 1.4bn 4% 4% 34% 36% Drilling & Completion New Mexico Shelf Texas Permian Facilities Delaware Basin Leasehold & G&G…
Three Rivers Acquisition Transaction Rationale 58 MMBoe1 of estimated proved reserves (50% oil; 55% proved developed) Current daily production of approximately 7.0 MBoe/d High Quality Over 1,500 identified drilling locations within…
Attractive Permian Basin Consolidation Acquisition Combined Permian Basin Acreage Position Strategic Rationale Represents a significant consolidation transaction in the Permian Basin Drilling opportunities across all three of…
Northern Delaware Basin Enhancing Leading Core Position Active Horizons Northern DB Consolidation Delaware sands Avalon shale (upper and lower) Bone Spring sand (1st/2nd/3rd) Material acreage overlap in the proven northern…
Midland Basin Meaningful Addition to Wolfberry Play Midland Basin Addition Significant addition to vertical drilling inventory across the Midland Basin Increases net acreage by 42% Primary targets include Wolfberry and shallow…
Midland Basin Expanding Into The Emerging Southern Midland Basin Southern Midland Basin Expansion Continued expansion into emerging southern Midland Basin Acquired acreage currently being developed with vertical wells targeting…
Why Invest in Concho Leading Permian producer with focused operations in three core plays Yeso, Delaware Basin and Wolfberry Large, predominately oil and liquids-rich resource base Significant potential for reserve and production…
Appendix 17
Permian Basin Base of the Wolfcamp Central Delaware Platform Midland Basin Basin DELAWARE CENTRAL MIDLAND PERIOD SERIES BASIN PERIOD SERIES PLATFORM PERIOD SERIES BASIN FORMATION FORMATION FORMATION TANSILL TANSILL…
EBITDAX Reconciliation Y ear Ended T hree Months Ended Decem ber 31, March 31, (in thousands) 2011 2012 2011 Net incom e…
Adjusted Net Income Reconciliation The following provides information that the Company believes may be useful to investors who follow the practice of some industry analysts who adjust company earnings and cash flows from operating…
Unhedged Cash Margin Reconciliation Historical Unhedged Cash Margin Years Ended Decem ber 31, ( in thousands, except per unit data) 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 2011 2010 1Q12 Net incom e (loss) .. 67 ,540 124,17 1…
Hedges as of June 1, 2012 Current Oil and Natural Gas Swaps 2012 Second Fourth Quarter T hird Quarter Quarter T otal 2013 2014 2015 2016 2017 Oil Swaps Volume (Bbl)…
Updated 2012 Guidance (Including Three Rivers) Concho 2012 Production and Operating Guidance Production: Oil equivalent (MMBoe) 28.7 - 29.8 % Oil 60% - 63% Price differentials to NYMEX: (excluding the effects of hedging) Oil…
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