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Concho Resources Inc. Provides 2012 Operational Update And Increases 2013 Production Guidance

Stocks in this article: CXO

The following table provides a reconciliation of PV-10 to the standardized measure of discounted future net cash flows at December 31, 2011 and 2012:

    December 31,
  2011         2012  
(In millions)
PV-10 $ 8,400     $ 8,327
Present value of future income taxes discounted at 10%   (2,699 )   (2,539 )
Standardized measure of discounted future net cash flows $ 5,701   $ 5,788  
 

Concho Resources Inc. Derivatives Information Unaudited

The table below provides data associated with our derivatives at February 7, 2013.

  2013        
First Quarter   Second Quarter   Third Quarter   Fourth Quarter   Total 2014 2015 2016 2017
Oil Swaps:
Volume (Bbl) 4,116,000 3,801,000 3,446,000 3,188,000 14,551,000 10,928,000 1,076,000 429,000 168,000
NYMEX price (Bbl) (a) $ 95.84 $ 95.84 $ 95.57 $ 95.34 $ 95.67 $ 91.57 $ 86.69 $ 88.31 $ 87.00
 
Oil Basis Swaps:
Volume (Bbl) - 2,548,000 2,576,000 2,576,000 7,700,000 - - - -
Price differential ($/Bbl) (b) - $ (1.26 ) $ (1.25 ) $ (1.25 ) $ (1.25 ) $ - $ - $ - $ -

(a) The index prices for the oil contracts are based on the NYMEX-West Texas Intermediate monthly average futures prices.

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