Concho Resources Largest Pure-Play Permian Company Premier Permian Assets Leading exposure to the Permian Basin New Mexico Shelf 930,000 gross (600,000 net) acres Four core areas benefit capital flexibility Midland Northern Basin…
Driving Superior Capital Efficiency through Scale Defining the Scale Advantage Premier Permian Position Size & Quality High-quality assets, better well productivity, exceptional source of upside Long lateral, manufacturing-style…
Manufacturing Growth Maximizing Returns & Recoveries of High-Quality Resource Manufacturing Mode is New Mexico Shelf Manufacturing Transforming Our Business Across the Portfolio: Key Projects Midland Large-scale projects Northern…
Growing Production and Controlling Costs Increasing Quarterly Production Controlling Costs (/Boe) MBoepd Production Expense Cash G&A Interest Expense 181.4 14.53 164.3 13.06 152.9 145.2 4.27 11.50 139.5 11.33 4.13 10.46…
Executing a Disciplined Capital Program Operating Cash D&C Capital vs. Cash Flows (mm) Flows Exceeded D&C Drilling & Completion Capital1 Cash Flow from Operations Production (MBoepd) Capital for Past Seven Quarters 731 181 164…
2017 Capital Program Capital-Efficient Growth & Value Creation Maximizing Scale 2017 Capital Program Allocation Extending Efficiency Gains Advantage through Diversified Capital Total capital program: 1.6bn to 1.8bn1 Rig Count…
Performance Track Record, Robust Outlook Delivering Differentiated Growth Visible Growth from High-Quality Assets Expect 2017 annual production growth of MBoepd 21% - 25% within cash flow Crude oil production expected to grow 25%…
Strong Balance Sheet Enhances Flexibility YE16 Net Debt / EBITDAX1 Peers 5.4x CXO Today vs. YE15 4.7x 600mm less absolute debt 55mm less annual interest expense Lower cost of capital 3.3x 2.6x Average2: 2.4x 2.3x 2.2x 2.2x 2.2x…
Track Record of Peer-Leading Execution 10-Year Production Growth per Debt-Adjusted Share (CAGR)1 Peers 23% 19% 20% 13% 9% 9% 8% Average2: 6% 6% 5% 2% A B C D E F G H I J K L M N -1% -1% -1% -3% -3% Data per…
Northern Delaware Basin: Red Hills Area Oil-Rich, Multi-Zone Development Red Hills Multi-Zone Well Performance 440 LEA 400 360 Average per Well Cumulative Production (MBoe)1 Red Hills Area 320 EDDY 280 2 1 3 4 240…
Northern Delaware Basin: Deep Area Extending the Oil-Rich Fairway North Deep Area Deep Area Bone Spring Well Performance LEA 1 Average Per Well Cumulative Production (MBoe)1 1 EDDY Outstanding Bone Spring…
Key Messages Committed to Disciplined Capital Our Scale & Our Strategy Allocation Execution Strength Wins Hire the best Capital spending on Drive productivity gains high-ROR projects Develop the best asset base Control costs…
Appendix
First-Quarter 2017 Highlights Focus in on Execution Quarterly production of 181.4 MBoepd exceeded guidance range Operational 13% organic crude oil growth quarter-over-quarter Record well performance in the Delaware Basin and New…
Hedge Position 2017 2018 2019 Second Third Fourth Total Total Total 2017 OIL HEDGES Oil Swaps1: 86.7 MBopd Volume (Bbl) 8,679,480 7,966,370 7,188,080 23,833,930 21,537,124 8,854,000 Price per Bbl 56.46 51.69 51.87 53.48 51.86…
Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) and Adjusted Earnings per Share (Unaudited) The Companys presentation of adjusted net income (loss) and adjusted earnings per share that exclude the effect of certain…
Reconciliation of Net Income (Loss) to EBITDAX (Unaudited) EBITDAX (as defined below) is presented herein and reconciled from the GAAP measure of net income (loss) because of its wide acceptance by the investment community as a financial…
Costs Incurred (Unaudited) The following table summarizes costs incurred for oil and natural gas producing activities for the periods indicated: Three Months Ended March 31, December 31, September 30, June 30, March 31, December 31,…
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