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Concho Resources Announces Management Change

MIDLAND, Texas--(BUSINESS WIRE)--Nov. 20, 2012-- Concho Resources Inc. (NYSE: CXO) ("Concho" or the "Company") today announced that Steven H. Pruett, Senior Vice President of Corporate Development, has left the Company to pursue other career interests.

Tim Leach, Concho's Chairman, CEO and President, commented, "Steve has been a dedicated employee of Concho and we wish him the best in his future endeavors. We presently do not intend to search for a replacement for Steve, as I am confident that we have the right team to execute on our long-term plan."

About Concho Resources Inc.

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's operations are focused in the Permian Basin of Southeast New Mexico and West Texas. For more information, visit Concho's website at www.concho.com.

Source: Concho Resources Inc.

Concho Resources Inc.
Price Moncrief, 432-683-7443
Vice President of Capital Markets and Strategy