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Concho Resources Inc. Reports Fourth Quarter 2012 And Year End Financial And Operating Results

The table below summarizes the Company’s gross drilling activities by core area for the fourth quarter and full year 2012:

    Total Wells 1     Operated Wells     Completed Wells
4Q 2012   FY 2012 4Q 2012   FY 2012 4Q 2012   FY 2012
New Mexico Shelf 73 360 29 251 85 348
Delaware Basin 45 154 29 87 47 134
Texas Permian 78 326 77 319 78 316
Total 196 840 135 657 210 798

1 Includes 5 wells that were plugged and abandoned in 2012.

Currently, the Company is operating 31 drilling rigs; 5 of these rigs are drilling Yeso wells in the New Mexico Shelf, 14 are drilling in the Texas Permian and 12 are drilling in the Delaware Basin. Of the 31 operated rigs, the Company is currently running 16 horizontal drilling rigs, including 12 in the Delaware Basin, 1 in the Texas Permian and 3 in the New Mexico Shelf.

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