Concho Resources Inc. (Concho) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. Concho�s core operating areas are located in the Permian Basin region of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. The Permian Basin is an oil and natural gas producing regions in the United States. The Company refers to its three core operating areas as the New Mexico Shelf, where it targets the Yeso and Lower Abo formations; Delaware Basin, where it primarily targets the Bone Spring formation (including the Avalon shale and the Bone Spring sands) and the Wolfcamp shale, and Texas Permian, where it primarily targets the Wolfberry, a term applied to the combined Wolfcamp and Spraberry horizons. In February 2012, it sold its remaining Permian Basin assets to Concho Resources Inc. In November 2011, it acquired three entities affiliated with OGX Holdings II, LLC.