Historically a major contributor to overall production growth for Concho, the New Mexico Shelf is a world-class asset with high rate-of-return drilling opportunities. It was this asset that enabled us to go public in 2007, and has supported our growth into other parts of the Permian Basin.
Since 2006, we have drilled more than 1,300 vertical wells on the New Mexico Shelf targeting the Yeso formation. By applying horizontal drilling and advanced completion techniques, we are expanding the boundaries of this legacy asset and unlocking the resource potential.
Our assets on the New Mexico Shelf are concentrated and largely held by production. In addition, a significant portion of our assets here are connected directly to oil-gathering pipelines.