Permian Basin Consolidation and Strategic Acreage Acquisition

CONCHO Current Oil and Natural Gas Swaps Hedges as of May 13, 2012 2012 Fourth Quarter Total 2013 2014 2015 2016 2017 Second Quarter Third Quarter Oil Swaps Volume (Bbl). 3,949,500 3,876,500 NY MEX price (Bbl) (a) $ 95.27 $ 96.39 $ 3,539,500 96.23 $ 11,365,500 95.95 $ 12,031,000 96.08 $ 4,513,000 92.85 $ 1,076,000 86.69 $ 429,000 88.31 168,000 $ 87.00 Natural Gas Swaps Volume (MMBtu) NY MEX price (MMBtu) (b). $ 75,000 6.54 $ 75,000 6.54 $ 75,000 6.54 $ 225,000 6.54 (a) The index prices for the oil contracts are based on the NYMEX-West Texas Intermediate monthly average futures price. (b) The index prices for the natural gas contracts are based on the NYMEX-Henry Hub last trading day of the month futures price. 18

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