Concho Resources Inc. ( CXO ) (Concho or the Company) today reported financial and operating results for the three months and year ended December 31, 2013. Highlights for the year ended December 31, 2013 include:
•Production of 33.6 million barrels of oil equivalent (MMBoe) for 2013, a 20% increase over 2012 production from continuing operations
•Net income of $251.0 million, or $2.39 per diluted share, for 2013, as compared to net income of $431.7 million, or $4.15 per diluted share, in 2012
•Adjusted net income 1 (non-GAAP) of $368.7 million, or $3.51 per diluted share, for 2013, as compared to $388.9 million, or $3.74 per diluted share, for 2012
•EBITDAX 2 (non-GAAP) of $1,685.6 million for 2013, a 14% increase over 2012