Concho Resources Inc. Reports Temporary Shut-In of Approximately 4,200 Net Barrels...

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Tue May 20, 2008 5:15pm EDT 

Concho Resources Inc. Reports Temporary Shut-In of Approximately 4,200 Net Barrels of Daily Crude Oil Production

MIDLAND, Texas--(Business Wire)--
Concho Resources Inc. (NYSE: CXO) ("Concho" or the "Company")
today reported that approximately 4,200 barrels of crude oil per day,
net to the Company, has been shut-in due to repairs at the Navajo
Refinery in Artesia, New Mexico.

   In a press release, dated May 19, 2008, the owner of the refinery,
Holly Corporation, stated that it believes it will take approximately
one week to repair the refinery.

   Assuming operations at the refinery resume as scheduled, the
Company's 2008 annual production guidance is expected to remain
unchanged.

   About Concho Resources Inc.

   Concho Resources Inc. is an independent oil and natural gas
company engaged in the acquisition, development, exploitation and
exploration of oil and natural gas properties. The Company's
conventional operations are primarily focused in the Permian Basin of
Southeast New Mexico and West Texas. In addition, the Company is
involved in a number of unconventional emerging resource plays.

Concho Resources Inc.
Jack Harper, 432-683-7443
Vice President - Capital Markets and Business Development

Copyright Business Wire 2008
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