Concho Resources Inc. Announces Proposed Offering of Senior Unsecured Notes

Concho Resources Inc.

today announced that it intends, subject to market conditions, to publicly offer $500 million aggregate principal amount of senior unsecured notes due 2022. The senior unsecured notes will be fully and unconditionally guaranteed by all of Concho's current subsidiaries. Concho intends to use the net proceeds from the offering to repay a portion of the outstanding balance under its credit facility.