Concho Resources Prices Upsized 7.7M Share Offering

Concho Resources Inc.

announced Wednesday, that it has priced an upsized public offering of 7,700,000 shares of its common stock for total gross proceeds (before underwriters' fees and estimated expenses) of approximately $712 million. The underwriters have an option for 30 days to purchase up to an additional 1,155,000 shares of common stock from the Company. Proceeds from the offering are expected to be used to repay all outstanding borrowings under the Company's credit facility, which were used in part to finance recent acquisitions, and for general corporate purposes, including funding potential future acquisitions. J.P. Morgan and Credit Suisse are acting as joint book-running managers for the offering. The offering is