Concho Resources Inc. Reports Second Quarter 2015 Results
Delivers Record Quarterly Production
Increases Crude Oil Production 45% over Second Quarter of 2014
Raises Full-Year 2015 Production Growth Target to 24% - 26%
Highlights
• Production for the second quarter 2015 of 13.4 million Boe, or 147.4 MBoepd, was 37% higher year-over-year and exceeded the high end of the Company’s guidance.
• Crude oil production increased by 45% over the same quarter a year ago and by 11% over the first quarter of 2015.
• 2015 production growth target raised to 24% to 26%, with the capital expenditure outlook unchanged.
• Concho reported a net loss of $1.02 per diluted share for the second quarter of 2015. This compares to net income of $0.38 per diluted share for the quarter on an adjusted basis (non-GAAP).
• EBITDAX (non-GAAP) for the second quarter of 2015 was $457.8 million.