Concho Resources Strong Track Record of Creating Profitable Growth The Permian Basin Positioned to Win Competitive Advantages The Permian Basin: Our home for 30+ years Execution strength & Home-field advantage with HQ in Midland,…
The Playbook for In-Basin Consolidation Building Value in the Permian Basin Criteria Todays Transaction Enhances Premium Resource Base Provides Significant Scale & Operational Synergies Accretive to Key Per-Share Metrics…
Concho Acquires RSP in All-Stock Transaction Creating the Largest Unconventional Shale Producer in the Permian Basin Transaction Overview Premier Permian Basin Consolidation All-Stock Transaction Valued at 9.5bn, Inclusive of RSPs…
Transaction Highlights Extending Conchos Track Record of Highly-Complementary Consolidation Premier asset base Focus on 1 The Core Expands premium inventory Enhances capital allocation Continue to Creates the premier Permian…
1 Focus on the Core Consolidating Core Acreage with Substantial Development Potential Combined Position Totals 640,000 Net Acres Key Asset Attributes 2 Contiguous Bolt-On to Existing Core Positions High working interest, operated…
2 Continue to Prudently Enhance Scale Expanding Our Leadership Position in the Permian Basin 27 22 21 20 Permian Rig 15 15 13 Count 10 9 8 7 Pro Forma PXD EOG CXO APA PE FANG XEC DVN APC RSPP Pro forma running the biggest…
4 Financially Attractive Combination Reinforcing Financial Strength & Profitability Balance sheet neutral and credit accretive Immediately Accretive Maintains target leverage ratio Immediately accretive to key per- share metrics…
Key Messages Extending Conchos Track Record of Highly-Complementary Consolidation Focuses on the core Enhances scale advantage and leverages Conchos execution strength to extract greater value from properties Drives significant…