Market Overview

Concho Resources Inc. Mourns Passing of Board Member Ray Poage

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Concho Resources Inc. (NYSE:CXO) mourns the death of board member Ray
Poage.

"Ray was a friend and a colleague, and we are deeply saddened by his
passing," said Tim Leach, Chairman and Chief Executive Officer. "He was
kind and generous with his support, and we will be continually grateful
for Ray's dedication, guidance and leadership as a member of the
community and the Concho Board of Directors. Our thoughts and prayers
are with his family."

About Mr. Poage

Mr. Poage joined the Concho Board of Directors in 2007 and served most
recently as a member of the Nominating & Governance Committee. He also
served as Chair of the Audit Committee from 2007 until 2018. Mr. Poage's
career in public accounting spanned more than four decades. Most
recently, he served as partner of Pedersen Jones Hughston Poage &
Graham, a certified public accounting and advisory firm. From 1980 until
his retirement from KPMG in 2002, Ray was a partner at KPMG. During his
tenure there, Ray provided accounting services, primarily in the area of
taxation, to private and publicly held companies engaged in the oil and
natural gas industry.

About Concho Resources

Concho Resources (NYSE:CXO) is one of the largest unconventional shale
producers in the Permian Basin, with operations focused on acquiring,
exploring, developing, and producing oil and natural gas resources.
Concho is at the forefront of applying advanced technology and
large-scale development to safely and efficiently maximize resource
recovery while delivering attractive, long-term economic returns. We are
working today to deliver a better tomorrow for our shareholders, people
and communities. For more information about Concho, visit www.concho.com.

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