September 7, 2011 Barclays Capital CEO Energy-Power Conference
Cautionary Statement Regarding Oil and Gas Quantities The SEC requires oil and gas companies, in their filings with the SEC, to disclose proved reserves, which are those quantities of oil and gas, which, by analysis of geoscience and…
Company Overview Ticker: Permian Basin Market Cap1: 9.0 billion Enterprise Value2: 10.7 billion Average daily Q2 2011 production of 61.2 MBoepd 342.6 MMBoe mid-year 2011 proved reserves (100% Permian)3 807,539 gross…
2011 YTD Highlights Achieved record levels of drilling, production and earnings during Q2 2011 Drilled 229 gross wells Produced 5.6 MMBoe, a 61% increase over Q2 2010 production EBITDAX1 of 310.7 million, a 92% increase over Q2…
Permian Basin Activity Expansion Technology expanding resource potential across Grayburg the Permian Basin Yeso San Andres Wolfberry Lower Abo Clearfork Cline Over 400 rigs currently Wolfcamp Mississipian operating 200 in the…
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…
2011 Capital Budget and Activity 2011 Capital Budget: 1.35bn 2011 Drilling & Completion Budget: 1.17bn 6% 21% 7% Drilling & Completion New Mexico Shelf Facilities Texas Permian Leasehold & G&G Delaware Basin 55% 24%…
Delaware Basin Overview Bone Spring is one of the most active emerging oil plays in the U.S. Concho is a leading operator participating in over 150 wells to date Approximately 280,000 gross (160,000 net) acres Identified 1,464…
Northern Delaware Basin Horizontal Play Horizontal Delaware 1,039 locations targeting: Avalon Shale Bone Spring Sands Wolfcamp Additional targets: Delaware Sands Penn Shale Drill and complete: 5 - 7mm EURs: 400 - 700…
Southern Delaware Basin Vertical Play Vertical Delaware 332 locations targeting the Wolfbone play Bone Spring Sands Wolfcamp Horizontal potential Drill and complete: 4 - 6mm EURs: 200 - 400 MBoe 30-day IP: 200 - 450…
Texas Permian Wolfberry Currently operating 15 rigs Wolfberry Portfolio Acquisition Impact 12/31/2010 6/30/2011 Recently acquired 400 Wolfberry locations in Upton County Working Interest 45% 50% Permian Additional…
New Mexico Shelf Currently operating 12 Yeso rigs, 2 Abo rigs Concho New Mexico Shelf Production History1 Concho has drilled over 900 wells in the Yeso 40,000 Yeso well characteristics: Drill and complete costs: 1.6mm 35,000…
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 18
EBITDAX Reconciliation T hree Months Ended Six Months Ended June 30, June 30, (in thousands) 2011 2010 2011 2010 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 reported company earnings and cash flows from…
Cash Margin Reconciliation T hree Months Ended June 30, 2011 (in thousands) (per BOE) Incom e before incom e tax es…
Hedges as of August 31, 2011 2011 T hird Fourth Quarter Quarter T otal 2012 2013 2014 2015 Oil Swaps: Volume (Bbl)…
Guidance Production: Oil equiv alent (MMBoe) 22.8 - 23.3 Oil (MMBbl) 1 4.9 - 1 5.2 Natural gas (Bcf) 47 .4 - 48.6 Price differentials to NY MEX (ex cluding the effects of hedging): Oil 93 - 95% Natural gas 1 20 - 1 40% Operating…
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