Concho Resources Increases Borrowing Base to $1.2B

Concho Resources has completed a semi-annual redetermination of the Company's borrowing base for its credit facility and that, as a result, the borrowing base has been increased from $955.9 million to $1.2 billion. Pro forma for the effect of the increased borrowing base, Concho would have had approximately $870 million available under its credit facility at March 31, 2010. The next semi-annual redetermination of the Company’s borrowing base is scheduled for October 2010.