Concho

Concho Resources was an independent oil and natural gas exploration and production company headquartered in Midland, Texas, with core operations in the Permian Basin, one of the leading hydrocarbon regions in the U.S. Until its acquisition by ConocoPhillips in 2021, Concho operated thousands of drilling locations, specializing in unconventional resource extraction through advanced horizontal drilling, hydraulic fracturing, and integrated field management systems. The company managed proved reserves exceeding 1 billion barrels of oil equivalent and maintained a business model centered on sustainable energy production, robust environmental stewardship, and technology-driven efficiency. Risk oversight luded supplier and joint venture management, compliance with federal and state energy regulations, and market-based hedging strategies. In its last independent year, 2020, Concho reported annual revenue of $3.7 billion and was recognized as a major player in U.S. oil and gas production.​