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Concho Resources Inc | November 2012 Investor Presentation | Timothy A. Leach | Page 12 of 11 | November 24, 2024

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2013 Capital Budget and Activity 21% Delaware Basin Texas Permian New Mexico Shelf 8% 7% Drilling & Completion Facilities Leasehold & G&G 2013 Capital Budget: $1.6bn 2013 Drilling & Completion Budget: $1.4bn 67% Horizontal 54% 21% 8% 67% Horizontal 25% 85% New Mexico Shelf Texas Permian Delaware Basin ? Average 5 rigs in 2013 ? 3 horizontal rigs ? Expect to drill ~190 wells in 2013 ? 47% of proved reserves1 ? 46% of production in 3Q12 ? Average 14 rigs in 2013 ? Expect to drill ~265 wells in 2013 ? 38% of proved reserves1? 28% of production in 3Q12 ? 5772 drilling opportunities 2 ? Average 11 rigs in in 2013 ? Expect to drill ~175 wells in 2013 ? 15% of proved reserves1? 26% of production in 3Q12 ? 490000 gross (329000 net) acres 2 ? 46% of production in 3Q12 ? 2,470 drilling opportunities2? 1,559 Vertical Yeso ? 369 Horizontal Yeso ? 5 , 772 drilling opportunities 2 ? 2,064 40-acre Wolfberry ? 2,629 20-acre Wolfberry ? 927 shallow Wolfcamp ? ~ 490 , 000 gross (329 , 000 net) acres 2 ? 2,375 Northern Delaware Basin drilling opportunities2 1As of 12/31/11, adjusted to include 13 MMB oe of estimated proved reserves associated with 1Q12 Midland Basin acquisition and i ncludes 58 MMBoe of estimated proved reserves associated with the 3Q12 Three Rivers acquisition. Does not reflect impact of non-core asset sale which is expected to close in December 2012. 2As of 6/30/12, adjusted to include the im pact of the 3Q12 Three Rivers acquisition.12