Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 8 Key Information 8 Company Overview 8 Concho Resources Inc., Valuation and Financial Data 9 Concho Resources Inc., Share Price Performance 9 Share Price Performance, Q2, 2015-Q2, 2016 9 Concho Resources Inc., Key Valuation Metrics 10 Key Valuation Metrics, Q2, 2015-Q2, 2016 10 Concho Resources Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11 Results of Oil & Gas Operations Per boe Produced, Q2, 2015-Q2, 2016 11 Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2015-Q2, 2016 12 Concho Resources Inc., Quarterly E&P Costs Trends 13 Upstream Capital Expenditure, Q2, 2015-Q2, 2016 13 Concho Resources Inc., Quarterly Production Trends 14 Concho Resources Inc., Total Oil and Gas Production 14 Total Crude Oil and Natural Gas Production Trend, Q2, 2015-Q2, 2016 14 Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 15 Concho Resources Inc., Crude Oil Production 16 Total Crude Oil Production Trend, Q2, 2015-Q2, 2016 16 Crude Oil Production, By Country/Region, Q2, 2015-Q2, 2016 17 Concho Resources Inc., Natural Gas Production 18 Total Natural Gas Production Trend, Q2, 2015-Q2, 2016 18 Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 19 Concho Resources Inc., Valuation and Financial Data, 2011-2015 20 Concho Resources Inc., Share Price Performance, 2011-2015 20 Share Price Performance, 2011-2015 20 Key Valuation Metrics, 2011-2015 21 Concho Resources Inc., Production and Reserves Trends 22 Total Oil and Gas, Reserves and Production 22 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26 Crude Oil/Liquids Production and Reserve 27 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27 Crude Oil Production and Reserves By Country/Region, 2011-2015 28 Crude Oil/Liquids Reserve Changes, 2011-2015 30 Natural Gas Production and Reserve 31 Natural Gas Production and Reserve Trend, 2011-2015 31 Natural Gas Production and Reserves, By Country/Region, 2011-2015 32 Natural Gas Reserve Changes, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index 35 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36 Concho Resources Inc., E&P Costs Trends 38 Allocation of the Upstream Capital Expenditure 38 Upstream Capital Expenditure, 2011-2015 38 Acquisition Costs By Country/Region, 2011-2015 39 Exploration and Development Costs, By Country/Region, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe 43 Oil and Gas Cost Per boe, US$/boe, 2011-2015 43 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45 Concho Resources Inc., Reserve Replacement Ratio 47 Oil and Gas Production Replacement Ratio 47 Oil and Gas Production Replacement Ratio, 2011-2015 47 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49 Concho Resources Inc., Results of Oil & Gas Operations Trend 53 Oil and Gas Revenue and Expenses 53 Oil and Gas Revenue and Expenses, 2011-2015 53 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54 Oil and Gas Revenue and Expenses, Per boe 59 Oil and Gas Revenue and Expenses, By boe, 2011-2015 59 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 60 Oil and Gas Performance Metrics 64 Concho Resources Inc., Land Holdings and Well Data 65 Developed and Undeveloped Acreage 65 Gross and Net Developed and Undeveloped Acreage, 2011-2015 65 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 66 Well Statistics 69 Producible Oil and Gas Well, 2011-2015 69 Producible Oil and Gas Well, By Country/Region, 2011-2015 70 Exploration and Development Wells Drilled, 2011-2015 74 Exploration and Development Wells Drilled, By Country/Region, 2011-2015 75 Recent Developments 76 Concho Resources Inc. - Recent Developments 76 Aug 02, 2016: Concho Resources Reports Second Quarter 2016 Results 76 May 19, 2016: Concho Resources Announces Retirements Of CFO And Senior Vice President Of Exploration 78 May 04, 2016: Concho Resources Reports First Quarter 2016 Results 79 Feb 24, 2016: Concho Resources Reports Fourth Quarter And Full-Year 2015 Results 81 Jan 18, 2016: Clayton Williams Energy Provides Update On Recent Transactions 85 Nov 04, 2015: Concho Resources Reports Third Quarter 2015 Results 86 Jul 29, 2015: Concho Resources Reports Second Quarter 2015 Results 90 May 05, 2015: Concho Resources Reports First Quarter 2015 Results And Raises Full-Year 2015 Production Growth Target 92 Apr 28, 2015: Mexco Energy Announces Development Of Properties 94 Feb 25, 2015: Concho Resources Reports 2014 Proved Reserves 95 Appendix 97 Methodology 97 Coverage 97 Secondary Research 97 Primary Research 97 Data Information Sources 98 Company Source 98 SEC/Other Regulatory Filings 98 Other Sources 98 Expert Panel Validation 98 Data Definition 98 Oil and Gas Reserves 98 Units of Measure 99 About GlobalData 99 Disclosure 99 Disclaimer 99

List of Tables Table 1: Concho Resources Inc., Key Facts 8 Table 2: Concho Resources Inc., Share Price Performance, Q2, 2015-Q2, 2016 9 Table 3: Concho Resources Inc., Key Valuation Metrics, Q2, 2015-Q2, 2016 10 Table 4: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 11 Table 5: Concho Resources Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2015-Q2, 2016 12 Table 6: Concho Resources Inc., Upstream Capital Expenditure, Q2, 2015-Q2, 2016 13 Table 7: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, Q2, 2015-Q2, 2016 14 Table 8: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 15 Table 9: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 16 Table 10: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 17 Table 11: Concho Resources Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 18 Table 12: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 19 Table 13: Concho Resources Inc., Share Price Performance, 2011-2015 20 Table 14: Concho Resources Inc., Key Valuation Metrics, 2011-2015 21 Table 15: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23 Table 16: Concho Resources Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25 Table 17: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26 Table 18: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Table 19: Concho Resources Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29 Table 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30 Table 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Table 22: Concho Resources Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33 Table 23: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34 Table 24: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Table 25: Concho Resources Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37 Table 26: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Table 27: Concho Resources Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40 Table 28: Concho Resources Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42 Table 29: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44 Table 30: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46 Table 31: Concho Resources Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 48 Table 32: Concho Resources Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52 Table 33: Concho Resources Inc., Revenue and Expenses, US$ mil, 2011-2015 53 Table 34: Concho Resources Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58 Table 35: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59 Table 36: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63 Table 37: Concho Resources Inc., Oil and Gas Performance Metrics, 2011-2015 64 Table 38: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65 Table 39: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68 Table 40: Concho Resources Inc., Producible Oil and Gas Wells, 2011-2015 69 Table 41: Concho Resources Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 73 Table 42: Concho Resources Inc., Exploratory and Developed Wells, 2011-2015 74 Table 43: Concho Resources Inc., Exploratory and Developed Wells, By Country/Region, 2011-2015 75 List of Figures Figure 1: Concho Resources Inc., Share Price Performance, USD/Share, Q2, 2015-Q2, 2016 9 Figure 2: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2015-Q2, 2016 10 Figure 3: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 11 Figure 4: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, Q2, 2015-Q2, 2016 13 Figure 5: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2015-Q2, 2016 14 Figure 6: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 15 Figure 7: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 16 Figure 8: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 17 Figure 9: Concho Resources Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 18 Figure 10: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 19 Figure 11: Concho Resources Inc., Share Price Performance, USD/Share, 2011-2015 20 Figure 12: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21 Figure 13: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Figure 14: Concho Resources Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24 Figure 15: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24 Figure 16: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26 Figure 17: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Figure 18: Concho Resources Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28 Figure 19: Concho Resources Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28 Figure 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2015 30 Figure 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Figure 22: Concho Resources Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32 Figure 23: Concho Resources Inc., Gas Production, By Country/Region, bcf, 2011-2015 32 Figure 24: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2015 34 Figure 25: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35 Figure 26: Concho Resources Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 27: Concho Resources Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 28: Concho Resources Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37 Figure 29: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38 Figure 30: Concho Resources Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Concho Resources Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 32: Concho Resources Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 33: Concho Resources Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 34: Concho Resources Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Figure 35: Concho Resources Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 36: Concho Resources Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 37: Concho Resources Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46 Figure 38: Concho Resources Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Figure 39: Concho Resources Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49 Figure 40: Concho Resources Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49 Figure 41: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 42: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 43: Concho Resources Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51 Figure 44: Concho Resources Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51 Figure 45: Concho Resources Inc., Revenue and Expenses, US$ mil, 2011-2015 53 Figure 46: Concho Resources Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 47: Concho Resources Inc., Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54 Figure 48: Concho Resources Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 49: Concho Resources Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 50: Concho Resources Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56 Figure 51: Concho Resources Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 52: Concho Resources Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 57 Figure 53: Concho Resources Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57 Figure 54: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59 Figure 55: Concho Resources Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 56: Concho Resources Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 57: Concho Resources Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 58: Concho Resources Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 59: Concho Resources Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 60: Concho Resources Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 61: Concho Resources Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 62: Concho Resources Inc., Oil and Gas Performance Metrics, 2011-2015 64 Figure 63: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65 Figure 64: Concho Resources Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66 Figure 65: Concho Resources Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66 Figure 66: Concho Resources Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67 Figure 67: Concho Resources Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67 Figure 68: Concho Resources Inc., Producible Oil and Gas Wells, 2011-2015 69 Figure 69: Concho Resources Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70 Figure 70: Concho Resources Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70 Figure 71: Concho Resources Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71 Figure 72: Concho Resources Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71 Figure 73: Concho Resources Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72 Figure 74: Concho Resources Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72 Figure 75: Concho Resources Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73 Figure 76: Concho Resources Inc., Exploratory and Developed Wells, 2011-2015 74