Traditionally a vertical play, over the past three years, the Midland Basin is emerging as a horizontal play for Concho. Since 2008, Concho has drilled more than 1,400 vertical wells targeting the Wolfcamp and Spraberry zones. Today, Concho is primarily developing our Midland Basin position using horizontal drilling and advanced completion techniques. Since our transition to horizontal development, Concho has drilled more than 100 horizontal wells targeting four distinct zones.

During 2015, Concho made significant progress in its horizontal program in the Midland Basin by optimizing drilling and completion methods, including increasing lateral length. These changes allow us to maximize well recoveries and increase resource potential. Further our large, concentrated acreage position and infrastructure network complement the growth opportunities in this region.