Exhibit 99.2

Concho Resources Inc.
Unaudited Pro Forma Combined Financial Statements

     On July 19, 2010, Concho Resources Inc. (“Concho” or the “Company”) entered into an asset purchase agreement to acquire certain of the oil and natural gas leases, interests, properties and related assets owned by Marbob Energy Corporations and its affiliates (“Marbob”) for aggregate consideration of (i) cash in the amount of $1.45 billion, (ii) the issuance by the Company to Marbob of an 8 percent unsecured promissory note due 2018 in the aggregate principal amount of $150 million and (iii) the issuance to Marbob of approximately 1.1 million shares of the Company’s common stock, subject to purchase price adjustments, which included downward purchase price adjustments based on the exercise of third parties of contractual preferential rights to purchase certain interests in properties to be acquired from Marbob.

     In October 2010, the Company closed the Marbob acquisition. At closing, the Company paid approximately $1.1 billion in cash plus the unsecured promissory note and common stock described above for a total purchase price of approximately $1.4 billion. The total purchase price as originally announced was reduced due to third party contractual preferential rights to purchase certain of the interests in the Marbob properties (“Marbob Acquisition”). The Marbob Acquisition remains subject to certain post-closing adjustments. Certain of the third partiescontractual preferential rights became subject to litigation, as discussed below.

     The Company funded the cash consideration in the Marbob Acquisition with (a) borrowings under the Company’s amended and restated credit facility (“Credit Facility”) and (b) net proceeds of $292.7 million from a private placement of approximately 6.6 million shares of Concho common stock at a price of $45.30 per share that closed on October 7, 2010 (“Private Placement”).Concho paid approximately $7.3 million in transaction costs associated with the Private Placement, which includes the placement agent fee.

     Certain of the Marbob interests in properties contained contractual preferential rights to purchase by third parties if Marbob were to sell them. Marbob informed the Company of its receipt of a notice from BP America Production Company (“BP”) electing to exercise its contractual preferential purchase right to purchase interests in certain of Marbob’s properties as a result of the Marbob Acquisition.

     On July 20, 2010, BP announced it was selling all its assets in the Permian Basin to a subsidiary of Apache Corporation (“Apache”). Marbob and BP owned common interests in certain properties subject to contractual preferential rights to purchase. BP and Apache contested Marbob’s ability to exercise its contractual preferential rights in this situation. As a result, Marbob and the Company filed suit against BP and Apache seeking declaratory judgment and injunctive relief to protect Marbob’s contractual right to have the option to purchase these interests in these common properties.

     On October 15, 2010, the Company and Marbob resolved the litigation with BP and Apache related to the disputed contractual preferential rights. As a result of the settlement, Concho acquired a non-operated interest in substantially all of the oil and natural gas assets subject to the litigation for approximately $286 million in cash (“Preferential Right Acquisition”). The Preferential Right Acquisitionremains subject to certain post-closing adjustments. The Company funded the Preferential Right Acquisition with borrowings under its Credit Facility. The unaudited pro forma combined financial statements do not include the effects of the Preferential Right Acquisition as it is not a significant acquisition under Rule 3-05 of Regulation S-X.

     In October 2010, the Company amendedits Credit Facility simultaneously with the closing of the Marbob Acquisition to increase the borrowing base from $1.2 billion to $2.0 billion. The Company paid its bank group approximately $23.6 million in fees and expenses associated with the amendment to increase the borrowing base.

     The accompanying unaudited pro forma combined financial statements have been prepared to assist investors in their analysis of the financial effects of the Marbob Acquisition. This information is based on the historical financial statements of the Company and Marbob and should be read in conjunction with the Company’s (a) historical audited financial statements and related notes filed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 filed with the United States Securities and Exchange Commission (“SEC”) on February 26, 2010 and (b) historical unaudited financial statements and related notes filed in the Company’s Quarterly Report on Form 10-Q for the nine months ended September 30, 2010 filed with the SEC on November 4, 2010 and Marbob’s historical special-purpose combined financial statements and related notes which are included in this filing.

     The accompanying unaudited pro forma combined balance sheet of Concho as of September 30, 2010 has been prepared to give effect to (i) the Marbob Acquisition, (ii) the increased Credit Facility borrowing base and (iii) the issuance of common stock of Concho in the Private Placement, as if each had occurred on September 30, 2010.

     The accompanying unaudited pro forma combined statements of operations of Concho for the nine months ended September 30, 2010 and the year ended December 31, 2009 have been prepared to give effect to (i) the Marbob Acquisition, (ii) the increased Credit Facility borrowing base and (iii) the issuance of common stock of Concho in the Private Placement, as if each had occurred on January 1, 2009.

     The unaudited pro forma combined financial statements included herein are not necessarily indicative of the results that might have occurred had the transactions taken place on September 30, 2010 or January 1, 2009 and are not intended to be a projection of future results. In addition, future results may vary significantly from the results reflected in the accompanying unaudited pro forma combined financial statements because of normal production declines, changes in commodity prices, future acquisitions and divestitures, future development and exploration activities and other factors.

Concho Resources Inc.
Unaudited Pro Forma Combined Balance Sheet
September 30, 2010

										Pro Forma				Pro Forma
		Concho				Marbob				Adjustments				Combined
		(in thousands, except per share amounts)
Assets
Current assets:
Cash and cash equivalents		$	357			$	—							$	357
Accounts receivable, net of allowance for doubtful accounts:
Oil and natural gas			99,402				23,103				(23,103	) (b)			99,402
Joint operations and other			101,421				31,567				(31,567	) (b)			101,421
Related parties			311				—								311
Derivative instruments			23,339				—								23,339
Deferred income taxes			2,551				—								2,551
Prepaid costs and other			11,295				248				(248	) (b)			11,295
Total current assets			238,676				54,918								238,676
Property and equipment, at cost:
Oil and natural gas properties, successful efforts method			3,871,715				896,454				445,270	(a)			5,213,439
Accumulated depletion and depreciation			(692,922	)			(429,632	)			429,632	(a)			(692,922	)
Total oil and natural gas properties, net			3,178,793				466,822								4,520,517
Other property and equipment, net			17,105				14,884				(6,288	) (a)			25,701
Total property and equipment, net			3,195,898				481,706								4,546,218
Deferred loan costs, net			19,544				—				23,617	(c)			43,161
Intangible asset, net - operating rights			35,360				—								35,360
Inventory			20,903				11,316				702	(a)			32,921
Noncurrent derivative instruments			20,105				—								20,105
Other assets			11,189				—								11,189
Total assets		$	3,541,675			$	547,940							$	4,927,630
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable:
Trade		$	7,133			$	6,938				(6,938	) (b)		$	7,133
Related parties			474				—								474
Other current liabilities:
Bank overdrafts			38,551				—								38,551
Revenue payable			40,785				—								40,785
Accrued and prepaid drilling costs			174,000				—								174,000
Derivative instruments			27,104				—								27,104
Other current liabilities			62,098				124,262				(123,033	) (b)			63,443
											116	(a)
Total current liabilities			350,145				131,200								351,490
Long-term debt			688,620				—				830,695	(a)			1,708,334
											159,000	(a)
											23,617	(c)
											6,402	(d)
Deferred income taxes			677,573				—								677,573
Noncurrent derivative instruments			15,713				—								15,713
Asset retirement obligations and other long-term liabilities			21,002				6,543				(287	) (a)			27,258
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value			92				—				7	(a)			100
											1	(a)
Additional paid-in capital			1,270,887				—				292,673	(a)			1,635,921
											72,361	(a)
Net investment for Marbob			—				410,197				(485,250	) (a)			—
											75,053	(b)
Retained earnings			518,853				—				(6,402	) (d)			512,451
Treasury stock, at cost			(1,210	)			—								(1,210	)
Total stockholders’ equity			1,788,622				410,197								2,147,262
Total liabilities and stockholders’ equity		$	3,541,675			$	547,940							$	4,927,630

The accompanying notes are an integral part of these unaudited pro forma combined financial statements.

Concho Resources Inc.
Unaudited Pro Forma Combined Statement of Operations
Nine months ended September 30, 2010

										Pro Forma				Pro Forma
		Concho				Marbob				Adjustments				Combined
		(in thousands, except per share amounts)
Operating revenues:
Oil sales		$	528,129			$	137,880			$	(23,267	) (n)		$	642,742
Natural gas sales			140,077				72,216				(9,639	) (n)			202,654
Total operating revenues			668,206				210,096								845,396
Operating costs and expenses:
Oil and gas production			122,220				104,463				(58,868	) (g)			162,208
											826	(l)
											(6,433	) (n)
Exploration and abandonments			5,798				—								5,798
Depreciation, depletion and amortization			169,844				40,556				38,951	(e)			249,351
Accretion of discount on asset retirement obligations			1,177				434				(91	) (f)			1,520
Impairments of long-lived assets			9,234				—								9,234
General and administrative			46,141				48,979				(33,626	) (g)			63,369
											1,875	(n)
Bad debt expense			578				—								578
Gain on derivatives not designated as hedges			(62,229	)			—								(62,229	)
Total operating costs and expenses			292,763				194,432								429,829
Income from operations			375,443				15,664								415,567
Other income (expense):
Interest expense			(34,293	)			—				(20,250	) (h)			(66,762	)
											(9,000	) (i)
											646	(j)
											(3,865	) (k)
Other, net			(3,898	)			776				3,198	(m)			(435	)
											(511	) (n)
Total other expense			(38,191	)			776								(67,197	)
Income before income taxes			337,252				16,440								348,370
Income tax expense			(124,766	)			—				(4,436	) (o)			(129,202	)
Net income		$	212,486			$	16,440							$	219,168
Basic earnings per share:
Net income per share		$	2.35											$	2.23
Weighted average shares used in basic earnings per share			90,361								7,727	(p)			98,088
Diluted earnings per share:
Net income per share		$	2.32											$	2.21
Weighted average shares used in diluted earnings per share			91,631								7,727	(p)			99,358

The accompanying notes are an integral part of these unaudited pro forma combined financial statements.

Concho Resources Inc.
Unaudited Pro Forma Combined Statement of Operations
Year ended December 31, 2009

										Pro Forma				Pro Forma
		Concho				Marbob				Adjustments				Combined
		(in thousands, except per share amounts)
Operating revenues:
Oil sales		$	425,361			$	129,585			$	(22,493	) (n)		$	532,453
Natural gas sales			119,086				62,030				(8,007	) (n)			173,109
Total operating revenues			544,447				191,615								705,562
Operating costs and expenses:
Oil and gas production			108,118				40,691				477	(l)			142,384
											(6,902	) (n)
Exploration and abandonments			10,660				—				103	(l)			10,763
Depreciation, depletion and amortization			206,143				49,144				18,262	(e)			273,549
Accretion of discount on asset retirement obligations			1,058				629				(104	) (f)			1,583
Impairments of long-lived assets			12,197				—				868	(l)			13,065
General and administrative			52,277				10,426				779	(n)			63,467
											(15	) (l)
Bad debt expense			(1,035	)			—								(1,035	)
(Gain) loss on derivatives not designated as hedges			156,857				—								156,857
Total operating costs and expenses			546,275				100,890								660,633
Income (loss) from operations			(1,828	)			90,725								44,929
Other income (expense):
Interest expense			(28,292	)			(35	)			(24,461	) (h)			(69,072	)
											(12,000	) (i)
											869	(j)
											(5,153	) (k)
Other, net			(414	)			568				215	(l)			(412	)
											(781	) (n)
Total other expense			(28,706	)			533								(69,484	)
Income (loss) before income taxes			(30,534	)			91,258								(24,555	)
Income tax benefit (expense)			20,732				—				(2,386	) (o)			18,346
Net income (loss)		$	(9,802	)		$	91,258							$	(6,209	)
Basic earnings per share:
Net income (loss) per share		$	(0.12	)										$	(0.07	)
Weighted average shares used in basic earnings per share			84,912								7,727	(p)			92,639
Diluted earnings per share:
Net income (loss) per share		$	(0.12	)										$	(0.07	)
Weighted average shares used in diluted earnings per share			84,912								7,727	(p)			92,639

The accompanying notes are an integral part of these unaudited pro forma combined financial statements.

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

Note A. Basis of Presentation

     The accompanying unaudited pro forma combined balance sheet of Concho as of September 30, 2010 has been prepared to give effect to (i) the Marbob Acquisition, (ii) the increased Credit Facility borrowing base and (iii) the issuance of common stock of Concho in the Private Placement, as if each had occurred on September 30, 2010.

     The accompanying unaudited pro forma combined statements of operations of Concho for the nine months ended September 30, 2010 and the year ended December 31, 2009 have been prepared to give effect to (i) the Marbob Acquisition, (ii) the increased Credit Facility borrowing base and (iii) the issuance of common stock of Concho in the Private Placement, as if each had occurred on January 1, 2009.

     Following are descriptions of the individual columns included in the accompanying unaudited pro forma combined financial statements and notes to unaudited pro forma combined financial statements:

	Concho -		Represents historical consolidated balance sheet of Concho as of September 30, 2010 and the historical consolidated results of operations of Concho for the nine months ended September 30, 2010 and for the year ended December 31, 2009. Concho applies the successful efforts method for accounting for their oil and natural gas properties.
	Marbob -		Represents historical combined balance sheet of Marbob as of September 30, 2010 and the historical combined statements of operations of Marbob for the nine months ended September 30, 2010 and for the year ended December 31, 2009. Marbob applied the full cost method for accounting for their oil and natural gas properties. Also included are assets and results of operations that the Company did not ultimately purchase due to the exercise of contractual preferential rights and certain other excluded assets and obligations, as well as certain insignificant overriding royalty interests of a certain affiliate of Marbob.

Note B. Method of Accounting for the Marbob Acquisition

     Concho will account for the Marbob Acquisition using the purchase method of accounting for business combinations. Concho is deemed to be the acquirer of Marbob for purposes of accounting for the Marbob Acquisition. The purchase method of accounting requires Concho to record the assets and liabilities of Marbob at their fair values. The purchase price of the net assets acquired will be based on the respective fair values. The initial purchase price allocation is preliminary and subject to adjustment.

Note C. Concho Pro Forma Adjustments

	(a)		To record the Marbob Acquisition in accordance with the terms of the purchase agreement for $1.4 billion of consideration. The financing of the cash portion of the Marbob Acquisition was through fundings under the Credit Facility and the Private Placement.See Notes D and E for additional information.
			The allocation of the purchase price to Marbob assets and liabilities is preliminary and, therefore, subject to change. Any future adjustments to the allocation of the total purchase price are not anticipated to be material to Concho’s consolidated financial statements.

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

The following table represents the preliminary allocation of the total purchase price of the Marbob Acquisition to the acquired assets and liabilities and the consideration paid for the Marbob Acquisition. The allocation represents the fair values assigned to each of the assets acquired and liabilities assumed:

(in thousands)
Fair value of Marbob Acquisition net assets:
Proved oil and natural gas properties		$	1,008,823
Unproved oil and natural gas properties			332,901
Other long-term assets			20,614
Total assets acquired			1,362,338
Asset retirement obligations assumed			(7,601	)
Total purchase price		$	1,354,737
Fair value of consideration paid for Marbob Acquisition net assets:
Cash consideration paid		$	830,695
Marbob $150 million senior unsecured 8% note, due 2018 (1)			159,000
Common stock, $0.001 par value; 1,103,752 shares issued (2)			72,362
Private Placement common stock, $0.001 par value; 6,600,000 shares issued, see Note E			292,680
Total purchase price		$	1,354,737

(b)		To adjust certain assets and liabilities that Concho did not acquire or assume in the Marbob Acquisition.
(c)		To record the deferred loan costs paid related to the credit facility.See Note D.
(d)		To record additional estimated transaction costs not incurred as of September 30, 2010.
(e)		To adjust (i) depletion expense for the additional basis allocated to oil and natural gas properties acquired and accounted for using the successful efforts method of accounting, (ii) historical depreciation for certain other propertyand equipment not acquired and (iii) depreciation for the allocated fair value to other propertyand equipment.
(f)		To adjust accretion for the acquired asset retirement obligations.
(g)		To adjust oil and natural gas production expense and general and administrative expense for a bonus primarily attributable to amounts paid to Marbob employees for the successful completion of the Marbob Acquisition. See Note F.
(h)		To record interest expense associated with the cashportion of the purchase price of the Marbob Acquisition funded utilizing borrowings under the Credit Facility,payment of deferred loancosts on the Credit Facility and payment of transaction costs associated with the Marbob Acquisition.The interest ratesofapproximately3.1% and 2.8% used to determine such interest expense represent Concho’s estimated average borrowing rate on outstanding bank indebtedness for the nine months ended September 30, 2010 and the year ended December 31, 2009, respectively. These rates would not be materially different under the pricing terms of the Credit Facility, as compared to the pricing terms of Concho’s previous credit facility.

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

(i)		To record the cash interest expense related to the Marbob $150 million senior unsecured 8% note, due 2018.
(j)		To record interest expense related to the amortization of the premium on the Marbob $150 million senior unsecured 8% note, due 2018.
(k)		To record amortization related to new deferred loan costs.
(l)		To adjust items capitalized under the full cost method which should be expensed under the successful efforts method of accounting.
(m)		To eliminatetransaction costs for the Marbob Acquisition included in the historical results of operations for Concho and Marbob during the nine months ended September 30, 2010.
(n)		To adjust the cash revenues and expenses associated with the assets and related obligations which Concho did not acquire in the Marbob Acquisition.
(o)		To adjust income tax expense to a 39.9% estimated effective tax rate for the Marbob Acquisition which includes the estimated effect of federal and state income taxes.
(p)		To adjust Concho’s weighted average basic and diluted common shares outstanding for the nine months ended September 30, 2010 and the year ended December 31, 2009, as a result of the Concho common stock issued to Marbob and in the Private Placement.
		The following table provides the calculation of the Concho’s historical weighted average basic and diluted outstanding shares to Concho’s pro forma weighted average basic and diluted outstanding shares:

		Nine Months				Year
		Ended				Ended
		September 30,				December 31,
(in thousands)		2010				2009
Basic:
Concho’s historical weighted average shares outstanding			90,361				84,912
Shares issued to Marbob			1,104				1,104
Shares issued in Private Placement			6,623				6,623
Pro forma weighted average shares outstanding			98,088				92,639
Diluted:
Concho’s historical weighted average shares outstanding (1)			91,631				84,912
Shares issued to Marbob			1,104				1,104
Shares issued in Private Placement			6,623				6,623
Pro forma weighted average shares outstanding (1)			99,358				92,639

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

Note D. Credit Facility

     In October 2010, the Company amended its Credit Facility simultaneously with the closing of the Marbob Acquisition to increase the borrowing base from $1.2 billion to $2.0 billion.

Note E. Common Stock Private Placement

     On July 19, 2010, the Company entered into a common stock purchase agreement with certain third-party accredited investors to sell 6,622,517 shares of its common stock at a price of $45.30 per share in a private placement for aggregate cash consideration of approximately $300 million. Also, the Company entered into a registration rights agreement with the investors. The Company paid approximately $7.3 million in transaction costs, which includes the placement agent fee. The common stock was issued and sold simultaneously with the closing of the Marbob Acquisition in October 2010.

Note F. Marbob Acquisition Bonus

     The Marbob historical statement of operations for the nine months ended September 30, 2010 includes bonuses of approximately $107.4 million to Marbob employees upon closing of the Marbob Acquisition. A significant portion of the bonus is attributable to amounts paid for the successful completion of the Marbob Acquisition. Under its annual bonus program, Marbob would have paid no more than $12 million in annual bonuses for the year ended December 31, 2010.

Note G. Litigation

     Certain of the Marbob interests in properties contained contractual preferential rights to purchase by third parties if Marbob were to sell them. Marbob informed the Company of its receipt of a notice from BP America Production Company (“BP”) electing to exercise its contractual preferential purchase right to purchase interests in certain of Marbob’s properties as a result of the Marbob Acquisition.

     On July 20, 2010, BP announced it was selling all its assets in the Permian Basin to a subsidiary of Apache Corporation (“Apache”). Marbob and BP owned common interests in certain properties subject to contractual preferential rights to purchase. BP and Apache contested Marbob’s ability to exercise its contractual preferential rights in this situation. As a result, Marbob and the Company filed suit against BP and Apache seeking declaratory judgment and injunctive relief to protect Marbob’s contractual right to have the option to purchase these interests in these common properties.

     On October 15, 2010, the Company and Marbob resolved the litigation with BP and Apache related to the disputed contractual preferential rights. As a result of the settlement, Concho acquired a non-operated interest in substantially all of the oil and natural gas assets subject to the litigation for approximately $286 million in cash.

     The unaudited pro forma combined financial statements do not include the effects of the Preferential Right Acquisition as it is not a significant acquisition under Rule 3-05 of Regulation S-X.

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

Note H. Supplementary Pro Forma Information for Oil and Natural Gas Producing Activities

     The following tables present supplementary pro forma information for oil and natural gas producing activities.

     Pro Forma Reserve Quantity Information

     The following table sets forth the changes in net proved reserve quantities of oil and natural gas and total proved reserves of Concho, Marbob and on a Pro Forma Combined basis, with related pro forma adjustments, for the year ended December 31, 2009:

		Concho												Marbob												Pro Forma Adjustments(a)												Pro Forma Combined
		Oil and												Oil and												Oil and												Oil and
		Condensate				Natural Gas				Total				Condensate				Natural Gas				Total				Condensate				Natural Gas				Total				Condensate				Natural Gas				Total
		(MBbls)				(MMcf)				(MBoe)				(MBbls)				(MMcf)				(MBoe)				(MBbls)				(MMcf)				(MBoe)				(MBbls)				(MMcf)				(MBoe)
Total Proved Reserves:
Balance, January 1, 2009			86,285				305,948				137,275				34,748				147,301				59,298				(7,492	)			(26,997	)			(11,990	)			113,541				426,252				184,583
Purchase of minerals-in-place			13,916				38,096				20,265				—				116				19				—				—				—				13,916				38,212				20,284
Sales of minerals-in-place			(18	)			(315	)			(71	)			—				—				—				—				—				—				(18	)			(315	)			(71	)
Discoveries and extensions			47,750				109,150				65,942				3,303				13,943				5,627				(50	)			20				(47	)			51,003				123,113				71,522
Revisions of previous estimates			1,421				(14,400	)			(977	)			2,593				10,870				4,405				(915	)			(2,262	)			(1,294	)			3,099				(5,792	)			2,134
Production			(7,336	)			(21,568	)			(10,931	)			(2,251	)			(12,923	)			(4,405	)			381				1,709				666				(9,206	)			(32,782	)			(14,670	)
Balance, December 31, 2009			142,018				416,911				211,503				38,393				159,307				64,944				(8,076	)			(27,530	)			(12,665	)			172,335				548,688				263,782
Proved Developed Reserves:
January 1, 2009			46,661				179,124				76,515				20,946				113,303				39,830				(5,040	)			(20,378	)			(8,436	)			62,567				272,049				107,909
December 31, 2009			66,578				222,776				103,707				23,597				122,507				44,015				(4,793	)			(19,004	)			(7,960	)			85,382				326,279				139,762
Proved Undeveloped Reserves:
January 1, 2009			39,624				126,824				60,760				13,802				33,998				19,468				(2,452	)			(6,619	)			(3,554	)			50,974				154,203				76,674
December 31, 2009			75,440				194,135				107,796				14,796				36,800				20,929				(3,283	)			(8,526	)			(4,705	)			86,953				222,409				124,020

Concho Resources Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
September 30, 2010 and December 31, 2009

     Pro Forma Standardized Measure of Discounted Future Net Cash Flows

     The following table sets forth the standardized measure of discounted future net cash flows relating to the proved oil and natural gas reserves of Concho, Marbob and on a Pro Forma Combined basis, with related pro forma adjustments, as of December 31, 2009:

										Pro Forma				Pro Forma
(in thousands)		Concho				Marbob				Adjustments(a)				Combined
Oil and gas producing activities:
Future cash inflows		$	10,145,876			$	2,786,575			$	(559,293	)		$	12,373,158
Future production costs			(2,956,257	)			(823,169	)			139,062				(3,640,364	)
Future development and abandonment costs			(1,272,695	)			(266,422	)			54,962				(1,484,155	)
Future income tax expense			(1,807,582	)			—				(501,790	) (b)			(2,309,372	)
Future net cash flows			4,109,342				1,696,984				(867,059	)			4,939,267
10% annual discount factor			(2,187,313	)			(939,434	)			481,233				(2,645,514	)
Standardized measure of discounted future cash flows		$	1,922,029			$	757,550			$	(385,826	)		$	2,293,753

      Pro Forma Changes in Standardized Measure of Discounted Future Net Cash Flows

     The following table sets forth the changes in the standardized measure of discounted future net cash flows relating to the proved oil and natural gas reserves of Concho, Marbob and on a Pro Forma Combined basis, with related pro forma adjustments, for the year ended December 31, 2009:

										Pro Forma				Pro Forma
(in thousands)		Concho				Marbob				Adjustments(a)				Combined
Oil and gas producing activities:
Purchases of minerals-in-place		$	403,242			$	160			$	—			$	403,402
Sales of minerals-in-place			(953	)			—				—				(953	)
Extensions and discoveries			844,742				60,998				(1,054	)			904,686
Net changes in prices and production costs			220,372				102,378				(23,922	)			298,828
Oil and gas sales, net of production costs			(436,329	)			(150,924	)			24,075				(563,178	)
Changes in future development costs			49,626				16,799				3,617				70,042
Revisions of previous quantity estimates			(19,234	)			61,766				(4,024	)			38,508
Accretion of discount			162,844				60,405				(13,118	)			210,131
Changes in production rates, timing and other			(87,960	)			1,917				459,590				373,547
Change in present value of future net revenues			1,136,350				153,499				445,164				1,735,013
Net change in present value of future income taxes			(413,306	)			—				(226,939	) (b)			(640,245	)
			723,044				153,499				218,225				1,094,768
Balance, beginning of year			1,198,985				604,051				(604,051	)			1,198,985
Balance, end of year		$	1,922,029			$	757,550			$	(385,826	)		$	2,293,753