Concho New Mexico Shelf Properties

Operations Map  | New Mexico Permian  | Texas Permian

The New Mexico Permian represents our most significant concentration of assets and our year end 2009 estimated proved reserves of 131.3 million barrels of oil equivalent (“MMBoe”)  in this area accounted for 62% of our total net proved reserves. During the 4th quarter 2009, our average net daily production from this area was approximately 20.7 thousand barrels of oil equivalent per day (“MBoepd”), representing 68% of our total production.

As of December 31, 2009, on its New Mexico Permian assets, the Company identified 1,592 drilling locations, with proved undeveloped reserves attributable to 915 of such locations.  Of these drilling locations, 984 target both the Blinebry and Paddock intervals of the Yeso formation. 

During 2009, we drilled or participated in the drilling of 205 (188.8 net) wells in this area, of which 1180 (169.3 net) were completed as producers, none were unsuccessful and 25 (19.5 net) were awaiting completion at December 31, 2009.

Within this area, we target two distinct producing areas, which we refer to as the shelf properties and the basinal properties. The shelf properties generally produce from the Yeso (Paddock and Blinebry intervals), San Andres and Grayburg formations, with producing depths generally ranging from 900 feet to 7,500 feet. The basinal properties generally produce from the Morrow formation, with producing depths generally ranging from 7,500 feet to 15,000 feet.