Concho Resources Inc. is an independent oil and natural gas. The Company engaged in the acquisition, development and exploration of oil and natural gas properties. The Companys operating areas are located in the Permian Basin region of Southeast New Mexico and West Texas, a large onshore oil and natural gas basin in the United States. The Companys three core operating areas include: New Mexico Shelf, which target the Yeso formation both on a vertical and horizontal basis; Delaware Basin, target the Bone Spring formation and the Wolfcamp shale, on a horizontal basis; and Texas Permian, target the Wolfberry, a term applied to the combined Wolfcamp and Spraberry horizons, on a vertical basis and the Wolfcamp shale on a horizontal basis. The Company intended to grow its reserves and production through development drilling and exploration activities on its multi-year project inventory and through acquisitions.