Concho Resources Inc. is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin.
Concho delivers strong results while running one of the largest development programs in the Permian. The biggest milestone during 2018 was Concho's acquisition of RSP Permian, Inc. The acquisition builds on Concho's track record of strategic consolidation. Following the acquisition, the Company's acreage position spans nearly one million gross acres across the Delaware and Midland Basins. The Company's development activities and the RSP acquisition increase daily production volumes 36% and contribute to significant resource expansion. For the third consecutive year, Concho executes a disciplined capital program within cash flow, which underscores the Company's disciplined approach to capital allocation and asset quality.