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Concho Resources Inc
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September 2016 Investor Presentation
| Tim Leach | Page 9 of 11 |
November 23, 2024
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"September 2016 Investor Presentation"
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Improving Well Performance and Reducing Costs • Continuous improvement in well performance › Drilling & completion optimization driving strong well performance › Advancing multi-zone delineation › Transitioning to development mode with more efficient multi-well pads and long-laterals • Sharp focus on reducing well costs › Average well cost per lateral foot down 40%+ since 1Q15 • Enhanced drilling efficiencies › Multi-well pads utilized for ~55% of the drilling program in 2Q16 › Set quarterly record for average drilling days in Northern Delaware Basin at 1days in 2Q16 › 20% improvement Y/Y in feet drilled per day in Midland Basin Decrease in Total Well Cost / Lateral Foot Since 1Q15 Midland Basin 48% New Mexico Shelf 47% Southern Delaware Basin 42% Northern Delaware Basin 26%