Concho Resources Inc.
We are an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. Our operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. We intend to grow our reserves and production through development drilling and exploration activities on our multi-year project inventory and through acquisitions that meet our strategic and financial objectives.
Our operations are primarily concentrated in the Permian Basin, the largest onshore oil and gas basin in the United States. As of December 31, 2010, 98% of our total estimated net proved reserves were located in the Permian Basin and consisted of approximately 66% crude oil and 34% natural gas.