Concho Resources Announces Pricing of Senior Unsecured Notes

Concho Resources Inc. CXO (“Concho”) today announced that it has priced an offering of $600 million aggregate principal amount of senior unsecured notes due 2022. The notes will bear interest at a rate of 5.500% per annum and will be issued at par. Concho intends to use the net proceeds from the offering to repay a portion of the outstanding balance under its credit facility. Concho expects to close the sale of the notes on March 12, 2012, subject to the satisfaction of customary closing conditions.